The Zend Encoder is a great idea and works wonderfully. However, I think it is outrageous that they charge so much for the product. In my opinion, charging high prices encourages people to create bootlegged versions of the software so that every-day people can use it as well. Software theft would be reduced and more products would be sold if the prices dropped.
I also applaud any company that recognizes this and offers either payment plans or reduced prices for students.