I’ve heard it said that if you don’t like the price on something, just wait for a bit and it will change or something new will come up with a better price. The only exception to this would be gas, as the price on that keeps getting worse. 
ReadScriptures.com is a website that has the LDS Scriptures available for the iPhone and iPod Touch. They have, since the announcement of the iPhone SDK, promised an offline reader. For a while many people have been looking forward to this offline reader of the scriptures for the iPhone and iPod Touch. This morning this has been released on the Apple Application Store for $14.99.
To myself, I think that this is a little over priced. Nonetheless, they have the potential of doing a lot with this application. They have the potential of improving it tremendously.
In the mean time, I think I’m going to develop a LDS Scriptures reader using Apple’s SDK. I would make this available for free on the App Store. It would probably have less features than the one currently on the App Store, but nonetheless would be available as a poor man’s version of the scriptures with the same content.
I’ve told a couple people of my intention to do this. And they’ve suggested to make it “donationware.” I’d have to check with Apple’s license to see if I can do this. But the idea would be to make this available without any required payment.
Update: It appears that someone has already beaten me. There is a version of the scriptures on the AppStore that is free. So there’s no reason for me to do this anymore.