I haven't seen any price drops on the 3.2, but this may also be because no one has them in stock either (at least online). Velo Orange sells it for $475, but in orange without the bag. I also wouldn't have paid $800 for a 5, and thought I would be missing out big time because of all the changes, but I'll most likely never know. For me, the 3.2 rides extremely well, and in the next couple of days, I'll be timing myself on my commute route which includes about a 2 mile sustained climb.
As for attention grabbing, yes it does! And it is far, far easier to demonstrate the fold on this bike than any other I own, about 2-3 seconds to collapse the frame without folding the handlebars. However, the cargo carrying capacity leaves something to be desired; I'm still debating whether I should try to create some sort of trailer hitch which I can attach onto and pull from the rear rack. That will be a Christmas break project though.