I have no idea if they are worth the price or not. But here is something I read on Fly Rod + Reel Online this week.
New from Orvis for 2012
Gear
Recognizing the realities of this economy, Orvis decided to focus on updating their value-based products, and they did it in a really innovative way. Many fly rod companies have gone overseas for production of their budget rods in recent years. The technique for many overseas manufacturers is very similar to how bamboo makers used to steal each others' tapers in the golden era of the 1920s-1940s: basically, you just cut the rod up into many tiny sections and take precise measurements, then copy the internal taper (which gives you both the mandrel shape as well as the approximate number of turns of graphite needed to reach the external diameter).
Orvis's Steve Hemkens explained that for their updated Clearwater series, they instructed their overseas partners to do the same thing... to the Helios. "Basically," Hemkens said, "we knocked off our own rods!" The results are excellent: a modern fast action taper made with budget conscious componentry for $198 (freshwater) and $225 (saltwater). In keeping with the theme, Orvis also used the same drag design from its high-end reels to design an all new composite plastic (and also formed aluminum) Clearwater Reel, starting at only $49. Combo packages with line will be available for under $300.