I gave this a fair amount of thought. As much thought as one should give purchasing a bunch of intangible polygons. As my avatar to the right alludes, I am a LTS, so I'm not paying the monthly fee. The more I thought about it, I realized that Excelsior's cost is probably about the same (or less) than the AMT/ERTL model I put together so many years ago (and is sadly languishing in a box)
I only play for short spurts at a time, so efficiency can be a premium when I'm on. I like the Fed Diplo Corps, and enjoy running off and doing those missions, but it can be a bit frustrating when there's a diplomatic opportunity in the Eridan Belt and I'm down in Pi Canis. So the transwarp was a major deciding factor, especially when I discovered that the RA version has way more warps available than the Cmdr.
I'm not a big PvPer, so balance is not my thing. Leave that to the Deferi. I will say, I wish that my ensign engineer didn't exist and I had a LtC Science instead, but whatever. I'm hoping with some of the discussions I've seen on powers there will be new ensign powers and suddenly that will become useful again. I did assign an officer to the seat, because it felt weird not to, but their power isn't on the tray because it's redundant.
As for the spending of the money, I felt it was a just reward. I've seen, and even participated in, threads where the art guys are responding to feedback. I can tell how much the ship models have changed since launch. And honestly, Excelsior is a gorgeous model. Given how much nitpicking we've done in the past (Galaxy, I'm looking at you), there is very little to complain about Excelsior. So I put my money where my mouth was and rewarded the art team for their hard work.
FYI, My captain was flying a Sovereign before he swtiched to his diplomatic weapon of choice. Made swtiching easy, since I didn't have to choose favorites between consoles.