I think the price is about right in terms of piece count, being between Moria ($80) and Helms Deep ($129) according to lego.com fo rthe American prices (I'm assuming the prices are USD). However, the minifigs are way off. For a set this size, I think it would be best if Lego used TTT plot and had Saruman, Wormtongue, Merry, Pippin, Orcs as well as Treebeard/more Ents.
It would be disappointing if we did not get the whole tower, and instead just one part of it, such as the Palantir room or the roof. Same with Minas Tirith, if we only got a very small part of it. Orthanc is very tall (500ft) and could be made quite easily to fit into 'Lego scale' and look good. Minas Tirith would be much harder.