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First off, I have already posted this question on AR15.com, I'm just wanting to see what you guys might have to say about this.

One of our local gun stores just got an used Colt SP1 AR15 (preban of course) in from a trade. They are asking $1495. It is in excellent shape inside and out. Should I go for it or not? I'm hoping he will budge a little on the price, I'll have to wait and see. I would also like a little history on the SP1. Why the designation and how long was it made for? I know quite abit about ARs, I was in the ARMY too, so I definitely know how to look for abuse. And this one looks brand new. I'm just a little foggy on the SP1 is all. Thanks for all replies!

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"They all fall to hardball!"
 

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http://www.biggerhammer.net/ar15/variants/

Maybe that can help you better than I can

From what prices I have seen, the one you quoted is in the ballpark

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The defensive firearm is a special-purpose piece of safety rescue equipment, designed to extricate a person . . . from the immediate threat of savagely violent crime. It is like the fire extinguisher. . . . Neither piece of equipment will do you any good if you don't know how to use it or are not psychologically prepared to face danger with that gear in your trained hands in a terror situation.
 
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