I owned a TS SP- I don't think that it was worth even close to the price that I paid in terms of playability- but the TS SPs Are worth whatever someone is willing to pay for one- so the current $1K + pricing is where they are sitting right now- that is the market.
That said- I too, am awaiting my first Schmelke SP- totally customized from tip to ferrule, to shaft taper, to joint type, weight, etc.--ALL for under $180- full splice Bacote- just like my prior TS SP that cost me $1100! The TS was not as customized as the Schmelke in so many aspects.
I will be curious as to how the two cues ( Schmelke and TS) compare in terms of playability. Bacote into maple, TS said those were his best hitting SPs; so the comparison will be fair as the woods will be identical- it may be 3 months before I receive my Schmelke. I'll do a report on here.
Having a completely customized cue with quality woods- Schmelke offers Cocobola, Ebony, Rosewood, Bacote - for under $200 is like pricing from over 20 years ago when Muellers was offering customized SPs at around $160 - those SPs are sought after now. They were called professional SPs in the old Mueller catalogs for those that remember - advertised as " for those looking for a little something extra".