Yeah I was quoted around the same price for my EB XR8.
There is a guy in the trading post, around St Clair who sells K&N filters plus other Ford parts such as brake rotors and other things for 90 bucks.
have a look at the trading post web site
www.tradingpost.com.au and do a seach under automotive for K&N and you should be able to find it.
Cheers
Mark
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Used to be Mustang1966coupe.
Owns
66 Silver Frost Mustang 289 Windsor
71 XY GS Fairmont in Bronze Wine 302 Windsor
92 EB XR8 302 Windsor
Sure do love those Windsors