I personally think it is cool, but not the price. It's roughly about $400. I find it hard to believe that SE would release something in this price range without considering releasing the Sephiroth MA first.
My friend has the Cloud AC earring. While I've never had an interest in earrings, I have to admit it looks pretty cool. And the vast majority of people just complement him on the cool earring, not knowing the nerdiness that it represents, and I love stuff like that