Hi Pete,
When we were going through the process of evaluating the EMG-12, and reviewing compliance requirements, we also had to go through the commercial viability.
Initially, my views on price were 'shock', and John S and Neil Wyatt calmed me down with their views on benefits of the product. Then I had to consider the ebay, back street boys and alibaba champions of this world, so discussions with the factory followed.
The factory negotiations took into consideration the compliance requirements as well as the commercial views on competition. This process was difficult, as they have a very good and well established Far Eastern market.
Also, the factory had heard this story so many times from well meaning 'Western' importers who promised them large quantities if they give the importer 'good price'. Most such importers turned out to be one to five piece buyers who didn't really give a hoot about compliance.
So, when we entered the screen, you can imagine what they were thinking. They were polite, and suggested that if we wished to compete against the Alibaba and ebayers of this world, as well as expecting the factory to consider compliance issues, we had to give certain commitments to quantity.
It is my opinion therefore, that even after you import from the U.K.legaly after deduction of U.K. VAT, plus Fedex courier, plus NZ GST of 15%, our price will still be competitive against any ebay or Alibaba trading company direct import from China into NZ for a product which may or may not be compliant to U.K./E.U rules..which in any case doesn't apply to you. This is provided you do not ask the ebay or Alibaba company to issue you with an illegal under value invoice. This is a practise which we do not do, even though it is common practise of ebay and Alibaba traders, and our politicians and Customs & Excise choose to turn a blind eye to this form of theft of revenue, and then wonder why we loose jobs. Then again, that is another story.
So you see, we too go through mental anguish, gymnastics, and due diligence through the product consideration process. As advised earlier, we are going through the same process for larger sizes, but only time will tell what will be the result 
Ketan at ARC.