Is the price right?!.....
 

Flywheel, crank pulley, 4.08 gears, exhaust install + tranny and rear diff Redline fluid change + dyno tune = $1,200 labor.

Already have all parts and car has previously been Uprev tuned so all it needs is a retune.

$1,200 seem like a fair price for labor?

Hmmm? A retune would cost about the same as the first tune if its due to adding parts I would believe? So figure the tune is about $600??? Just a guess, so I think that's about right in general pricing. But in street value you might be able to drop like $200? See if you can get a lower price? If you can't? Go with what you been offered.