Good looking bike. What is the $20 registration for?
Value is in the eye of the beholder, have you looked at any other bikes? have you ridden this bike and others? have you looked online and other LBS to see if that price is fair?
The group set looks good, not high end but with normal maintenance will last a long time. Tektro brakes are good also. I'd skip the all terrain tires unless you are going off road, those tires will be more than adequate for street, gravel, and dirt paths.