I recently parted with one of these after my youngest outgrew it. I had been hesitant to get rid of it as it was such a good kids' bike.
Despite the high retail price, it was not a hard bike to find a buyer for. I had planned to bring it back into the local shop for consignment. However, it didn't make it there. The piano teacher inquired about it, and let I her take it for her daughter to try. It never came back from the demo.
I received a fair price for it, and the new owner is apparently happy with it too. In the end, not only was it one of the best kids' bikes we've bought, it was also one of the cheapest.
...I agree with the gearing thing though.