Am I payin too much?

I have a 99 ex-cab and step-side s-10 on 18's. A guy in town wants to charge me 1600 to bag it. I've got 8 3/8 Parker valves, 4 rs-62 slam bags, 3/4 horse Blojax compressor, the front bag cups, some line, a 10 switch box, and 4 MIC pressure gauges. He said he will notch through the bed, put the compressor and valves under my bed, install new cross-members, new shocks all the way around, skid-plate, re-run brake lines, and install drag blocks. I've never had a truck bagged before and I worked my ass off for all this money. I just want to make sure I am spending it right. Am I paying too much or is this a good deal?