Check out this post on The Bag Lady:
Pauric Sweeney Python Bag
Now while ostensibly this is a post about yet another expensive handbag, the B Lady uses it as a hook to do a brief rumination on the skyrocketing prices of "luxury" handbags. Do check out the NYT article she links to as well - it does a more in dept overview of the whole "bag bubble" concept!
The Bag Lady is probably my favorite bag site for just this reason: She does not assume that the only handbag worth talking about must cost $500+ and be made of some obscure animal (Komodo Dragon clutch anyone?). Instead she features a wide selection of bags and other goods as well in an equally wide price range.
My only sadness regarding her site is that she is based in the UK - so many of the goodies she features are, sadly, only available in the UK! :- (
That aside, it's a great site - so do yourself a favor and Bookmark it Dano! ;-)