Well, I'm sure it's worth much more than its cost, even though the hardware is probably only worth 1/10 of the sale price. Other pilots have different opinions. In my case:
.. it saved me or the other pilot at least three times; during all of these events, I noticed a glider, but failed to notice another lower/higher or on a different relative heading.
.. since when I started using it, it usually informs me of another glider much sooner than my eyes could spot it.
.. on one occasion, me and the other pilot escaped a collision with only a few meters distance, but the GPS in my Flarm didn't have a valid fix, so the device couldn't work. We both were aware of each other's presence, as we were flying together and chatting on the same frequency, we only lost eye contact for probably less than a minute.
.. I feel much more in company and enjoy competitions much more, due to the awareness of the relative position of some of my fellows.

best,
aldo cernezzi
www.voloavela.it