I just bought in for about 1080, i only bought 1 btc. It is expensive and depresses me a little bit as just two weeks ago when it was only about 400 i wanted to try and start buying them but with all the time its taken to get verified and have my wire transfers get in its soared to over 1k. But in the end from everything ive read it seems unlikely that there won't be some moment to come when i can sell it with profit over the coming months/years even at this price, though with that said i still think ill wait for the prophecised drop before investing the majority of my cash.
There are more and more people watching with interest and waiting for a drop. But most bitcoin holders don't want to sell them, even at 1200 USD... There will always be predictions of drops - but there will not always be future drops lower than today's price level.
Localbitcoin.com allows you to buy them with no delay with an escrow system and bank transfer payments.