i don't think the price is outrageous if you look at it from a cost/labor standpoint. even the tree book took the printer/artist 3 years of his life to make, and i bet if you add up all the hours, it doesn't even sniff minimum wage. it's not that they're expensive... it's more that they just seem kind of pointless to me. and this is coming from a collector of fine press books - but like i've said, the fine press books i collect are either fairly cheap, or they are books like matrix that actually reward you with tons of content, and not just <500 words of some poem, or a description of trees, or whatever. i like the codex fair because i like looking at these books - but what i didn't like was the attitude that i was some sort of philistine for even suggesting the idea that such art could be reproduced in a $500 edition that some people might actually be able to buy.
and, i completely agree with bill - except for the very established fine presses, there has been no resale market demonstrated for these books. there are some dealers who specialize in fine press (lux mentis is one, and vamp and tramp is another, although vamp and tramp works only on consignment, so they're basically an agent for the primary market), but i don't really know how they make their money (especially because lux mentis maintains a laughably unrealistic markup on most items). no one is buying or selling these at auction - so you need to be even more rich to afford them, since they're expensive to buy but also don't really enhance the value of your collection all that much, either. if you love it and have to have it, of course it's worth the money - anything is. i think books like this are worth their price tags way more than a damien hirst painting where he had his assistant paint a bunch of rows of identical colored dots, but the hirst will sell at auction for more than you paid larry gagosian for it.