The price does seem alot more attractive.
I've never demo'ed an IVES, so can't comment on its quality/etc...
I'd say if you want to keep your factory head unit, want a 7" 16:9, have both VCP and PS2, it's a pretty good option.
Many here would probably say its still overpriced, and you could get more for your $$ in the aftermarket.
I personally would rather have in dash DVD, better sound quality, more system expansion flexibility, etc.... The FM modulator to me is something I really dislike, and I personally don't think it's that well integrated; the IVES was obviously an afterthought from Honda.
Now if you could get the RES as a dealer installed option, that'd be another story, but nope.
Just some thoughts. Let us know what you decide. Good Luck!
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-Shin John
'01 DEP EX, and I'm workin' on it! (slowly)