I would spend my 200.00 on a great artisan pipe from the likes of Brian Ruthenberg and others. Once you smoke a pipe of that quality it may change your views on how a pipe can perform and you can always buy tobacco. But hey that is me.
Maybe so! For now, tobacco is the priority! Interesting to see where other's interests and priorities are though. I appreciate all the ideas and responses.
Since my pipes are all ones I have made for myself, I think I would buy several large pieces of the nicest briar I could find and make myself some fine pipes. I might also slip in a pipe-making tool or two as well.