I had a precor about 10 yrs ago, it was a good one, solid, expensive. I can't remember what I paid, but it was we'll over $1000 at Costco way back then. Never had any problems with it other than my ex had to have it, used it fairly regularly for maybe 6 months, then it sat collecting dust for years. I gave it away when I moved from Knoxville.
Ellipticals are better than nothing, if they are used regularly and if they are used right. That said, I don't recommend them to anyone for any health and fitness purpose... They just aren't nearly as affective as other means of getting in shape, losing weight, gaining lean muscle mass, etc. A good program also stresses diet, which is more important than the physical activity.
If you do buy one I would highly recommend finding a used one, you will save a ton of money and probably find one that has barely been used. I wouldn't worry about the heart rate monitor and all the fancy stuff, just a solid machine. I also recommend using it for HIIT (high intensity interval training), where you go as hard as you can on a high setting for short bursts of 45-60 seconds, then slow down on an easier setting for 1-2 minutes and repeat. HIIT for 15 minutes will give you much more benefit than "cruising" at 1 speed for 30 minutes, which is what most people do. I've watched the same people do this regularly at my gym for several years, with little to no results.
Stepping down from my soap box now