Cheaper than US prices, definitely! You can see the French prices on the French website, and even after converting to US$, it's definitely cheaper. Plus you can get the VAT tax back, making it even less when compared to US prices.
For example, I got a damier speedy 30 and a framboise agenda from Germany in the fall (Germany's prices are a few euros more than France's prices). The speedy 30 was 425 euros, minus 41 euros for the taxback, so it came out to 384 euros, or about $486. The agenda PM was 205 euros minus 19 euros = 186 euros, or about $233.