That seems a little high .
I had it installed recently at Brandywine Porsche in Pa.
Total installed cost ( with switch ) was $ 2340

$1720 for the mufflers etc. and $ 72 for the front switch .( If you have sports chrono, you don't need this switch )

Per Porsche, labor should be:

# 26 01 31 03 = 330 TU for cars with sports chrono
# 26 01 31 00 = 440 TU for cars which require a new front switch panel .
(TU = Time unit i.e. 330 TU = 3.3 hrs)


PS: Do it , you will love the PSE.