Not really. Apple does not make a budget PC and that is why it appears that competitors' prices are better for every class of computer. . When you spec a competitors' machine to match a Mac's spec, the price difference isn't as much as one would think.
Do you call a Lenovo Thinkpad T61 a budget PC? Do you really think for the $1335 config I tried to make, I would get a machine that is worse than my current Macbook Pro? At least I could be running 8GB of RAM without trouble with Lenovo and have better screen resolution.
And Apple "confessed" themselves when they spoke about their ~30% margins - they have much higher margins than other companies.
While I do agree that one should not compare Apple PCs with budget PCs, even when comparing with high quality PCs, Apple is more expensive.
That said, Apple has 100% right to charge what they want for their machines, and I don't agree with Apple overcharging their machines being used as an argument for "allowing" Psystar to do what they do. And on the other hand, as long as Psystar does not use anything else than standard component, they can't be prosecuted for anything. I however remember (?) that they are installing a special chip that makes OS X believe to be running on a genuine Apple hardware; now that would be a problem.