The 292 will be produced in a run of 1000 for the serie 'J' (2007) - and I have it on fairly good authority that less than 20 have actually been delivered so far....are you a patient guy?
It would seem likely that after a few production problems with the ceramic case, Panerai are now holding back the finished watches until sufficient are available to ship all at once, instead of in dribs and drabs as has been the situation up until now.
Aside from that, in terms of price, it's a steal and I'd probably like one in my collection...a serious problem arises with only a few actually available - the 'flippers' buy them and re-sell at a profit to the people who just can't wait. This means that these models have an artificially high price (IMHO) which no-one seems to mind. It's 'good' for Panerai as it maintains an interest in the watch, and the people who buy to re-sell are making handsome profits from people who are willing to pay silly money.
"You pays your money, you takes your choice" - but personally I won't be drawn into this mad spiral - just because someone on a forum somewhere says the 292 is 'the' watch and everybody rushes out to get one, regardless of the price.
One last thing - the 292 for the 'K' model year (2008) does not have the 'Pig' (two man submarine used by the Royal Italian Navy frogmen) on the dial, which will no doubt increase the value of the 'J' series beyond all measure...there are whispers that this has been done on purpose...
and by the way i won't miss the pig logo, so it will be no problem for me to wait for the 2008 K models