Rob,
looks like a heck of a deal to me!
I've got a 24" Vinyl Express cutter that I bought through Sign Warehouse about seven years ago. I paid about $1200 for the package I think. It came with the cutter, design software package, and several other CD's with extra fonts and some additional stuff. I'm running Vinyl Express LXi 7.5 Master and it's a pretty decent program and does all I need it to do.
For years I've been making custom decals for members of another site that I'm a member of. I've made a lot of custom boat graphics, vehicle signs, etc. I'm also very good friends with the people that run the local indoor skateboard park and pro shop. I make a lot of window decals and signs for their pro shop. That unit is probably at least a step below what I have as far as quality goes, but it is 34". I wish my machine was 34" but the 24" works fine.
One thing about the cheaper machines is the "tracking" capabilities. If you're doing smaller graphics, it's not that big of a problem. But if you're cutting larger pieces, the tracking becomes much more important. My 24" machine works pretty well for most of what I do. Sometimes if I'm cutting a larger graphic, I'll lay it out and cut it in pieces if I can to alleviate any tracking problems. It's always worked fine though.
I too use Oracal 651 that is rated for 6 year outdoor durability. I've got signs on my truck that I put on at least 3 years ago and they look as good today as the day I installed them! I found that Fellers is a good place to get material. They've got EVERYTHING!
If you ever want to talk, drop me a line and I'll give my my number. I don't do this full time, it's kind of a side thing but I really enjoy doing it and have made some pretty nice graphic displays over the years.
John