Koi,
prices for second-hand tonearms have gone pretty ballistic all-round. It was only about 5 years ago when you could pick up a nice Ittok for about £150. They now seem to sell for at least double that. The Basik LV-V you couldn't even give away, but now they're selling for £120+ on a certain auction site.
I guess the penny has dropped that barring the lower end Rega arms and some Jelcos, there's very little else out there under £500 new.
The Aro is much loved because what it does well, it probably does best of all. But it's not for everyone, particularly if you value more the strengths of either an SME V or an Ekos. Either way, even at a grand I'd say an Aro is something of a bargain compared to alternatives. I love it, and the only arm that could probably substitute now the Aro is discontinued might just be a Graham. But then you're into much more serious money.
If you want a cheap alternative look at a Nima. It's a nice arm and I could live with it, but it's not quite up to the Aro.