I thought $40 was a bit too steep for a hanger too. After placing a large order with Hanger Project (Multiple suit hangers, shirt hangers, pant hangers, Saphir shoe care, etc.), I can officially say that the suit hangers, along with everything else they have, is worth the price. If you can mange to put together a larger order, pull the trigger and go with the Hanger Project.
If you can't put together a larger order, still pull the trigger and purchase a hanger.
Just my $0.02.