What would be a good competitive price for the Microsoft Surface?

Everyone's still left in the dark about pricing for the Surface, so I'm really curious to see what the price of this thing is actually going to be. Obviously $199 for the ARM version is obvious as the best price, but seeing all that hardware (good hardware, mind you) I sincerely doubt Microsoft can make it that cheap.

Could Microsoft price the Pro version like an Ultrabook ($699-799) so they could make the RT significantly cheaper? I'm looking at maybe around $399 for the RT version and possibly $599 or so for the Pro version. Thoughts?