I would say your estimate is about right. Your pricing is pretty similar to what mine ending up being as well, and I pieced mine together from Summit Racing. With the addition of the housing in the ER kit, I would seriously consider just going that route.
Here's how I look at it. If you're trying to pinch pennies and want to keep the cost as low as possible, then make your own kit for $100 less and be prepared to spend a little more time DIY-ing the setup. If you don't mind spending a little more and having less headaches and less tinkering to deal with, then go with the ER setup.
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