I would pay that if I were confident in the shop's abilities. In the greater Boston area, you could expect to pay $600 - $700 at an independent shop, which includes labor, a new timing belt, and a new water pump (idlers and tensioner excluded).
Low mileage not withstanding, I'd have the work done sooner rather than later. I had mine done at an earlier-than-required mileage do to the age of the original components.
Last edited by Selym; Yesterday at 10:22 AM..