Yeah, people want stupid money for those intakes, I got lucky and found my M1 relatively cheap ($750 CAD). I'm surprised the Hughes wasn't better, I have only heard good things about them. But I would say unless you can find an OBD1 Mopar Performance PCM or upgrade to OBD2 and get a custom tune, the M1 isn't really too great. The problem is the 5200 rpm rev limiter on the stock tune.
My experience with the M1 is like this.... it's slightly worse than the kegger below 3000 rpm, about the same from 3000 - 4000, and way better above 4000 rpm. The kegger is pretty much out of breath by 5000 rpm, so you might as well shift. But with the M1 (plus a 53 mm throttle body, plus a cam, plus long tube headers, etc) the engine wants to rip right past 5200 rpm, so the stock PCM isn't ideal. I do have a Mopar Performance PCM for 1994 / 1995 trucks, and it works well.