I've got the viper, which is the same thing except the backpacker arm rests fold flat. I bought mine several years ago for about $225. I think the bullet is going for almost $300 now, so $125 sounds pretty good.
I love mine. It's a quality stand, durable paint and padding. It makes a serious connection with the tree and is real steady, good solid footing. I sat in it for 11 hours straight once, so it's comfy, too!