To begin with - Yes, that's a good price. I got mine (a Green one) at Nordstroms for $554.90 the day after Xmas after 2nd markdowns (I think Barneys price was also around $550)
The Navy is beautiful - I was actually hoping to find a Quilted Elastic Stam in Navy. I love the combination of Navy leather/Royal Blue Stitching. I think it's a gorgeous colo combination/contrast.
As for the bag itself, I love it. It's so easy to carry. Not as heavy as you would think. It's also a great size -lots of room w/o looking bulky and oversized. It's very similar to the Stam (w/o the handles).
I hope you get it - Let us know what happens!