I'm not in the market for one, but I did have my eye on this about 9 months ago when weighing up options between this and a 9" Garmin. I've only ever seen it close to around $1,500 at its lowest - this is by far the cheapest that at least I have seen.
My mate just got one for $1699 a couple of months ago and is fuming, but I can at least say from experience that $1200 is a very good price for this unit. Not laggy like the cheap hook reveal/Eagle units, has a touch screen, good scanning, and proper maps.
If you've got a boat/kayak and want a good, large (enough) screen unit - this would be a no-brainer
I notice they have two fs9, this one and one at 1699. Im trying to see the differencce but reading feature they look the same