Yup, it is. I think it's worth it, but you can get nearly the same performance out of much less expensive ones. Most people seem to go with either the Vararam or the Rotofab depending on how they feel about OTR intakes. Vector sells both as packages with their tuning software. I went with Vector for the tuning because I wasn't ready to start messing with tuning an auto trans yet, and I didn't have FAST in my back yard =P Plus, once you purchase Vector's initial tune/software they will re-tune for free any time you want. Run some logs, send it to them, they mail you a new tune. Buy a set of headers? Run a few logs and they'll send you a new tune. Usually turnaround is just a day or two at most.
It's like having HPTuners, except that you don't have direct control over the tune yourself. You can data log, check and clear codes and all that, but they take care of the actual tune.