I know this bike quite well... I own 4 of them :-)
The first one I bought with 18 in The Netherlands. It cost 1800 guilders, approx. 700 USD (best guess)
The Custom 1000 model was a lot cheaper, 1000 NLG.
It's a high quality bike and was sols as "hybrid". Because MTB's were starting to become very popular, Giant combined the adsvantages of big wheels (stability) with Shimano Deore LX parts and MTB looks. The 1993 Deore LX was situated below Deore XTR, XT and DX but was above 300 LX and 200 GS.
I see you made some modifications (V-brakes) and the whole thing could use some oil (and a new chain).