BFL have actually delivered my Monarch about a week ago. I was a first day preorder (Aug 17th 2013). I was supposed to be shipped a second "free" Monarch at the same time but am still waiting for that. I also had 600GHs of compensation cloudmining since June 24th that was shutdown today. Yes, the current price is WAY too high at $1.97 per GHs but the Monarch is not outdated tech. It uses .7w/GHs which is still competitive with current generation miners from KNC, Bitmain and Spoondoolies.
I would argue that the whole point of buying the hardware is to use it to make a profit. If the current price is $1.97/GH, then it is outdated, even at 0.7W/GH. They originally promised 0.6W/GH and a December-January delivery date.
If you preordered in August 2013, you would have paid $4,680. Last week, they sent email stating that they are adjusting the purchase price to $1.97/GH ($1,379) for existing orders. I really do hope they honor their word and send you a $3,301 refund (or 2 additional Monarchs and a partial refund).