It is certainly a big price jump over regular economy, but personally I think it's a fantastic product (especially ex-LAX on the 777-300ER). There are small quibbles with the seating (odd recline) but they're just that - small quibbles.

When compared to other carriers' "premium" product, it's usually a bit more of a price hike over economy, but the product is certainly one hell of a big step above what others offer, as well. The NZ Premium can never be compared to the likes of United "Economy Plus" or (the one I see regularly) SAS's "Economy Extra", both of which are little more than a few inches of extra leg room and (if you're lucky) a slightly more enthusiastic smile from the cabin crew. Others will have a lot of opinions on this, but for me it easily rivals (or tops) the Business product of a number of carriers out there.

So my opinion... If you've got the money, I think it's worth giving it a go.