That old wellspring, Wikipedia tells me that milk glass actually dates back to 16th Century Venice. Mildly surprising information, but then again, most glass has a long history. I have a wee collection of it going at the moment, as shown above. As always, I'm not serious about it in the way that other collectors are. (Check out, for example, the National Milk Glass Collectors' Society.) I use my pieces for household plants. The ones shown are on my kitchen window sill. It's nothing special, but it makes looking out at the world while I wash the dishes a bit more pleasant. And I like putting my milk glass to use, rather than just keeping it on display or letting it sit around.
I love Eddie Ross. I do. And when you buy something from his shop, what you're really getting is the man's expertise. On Ross' shop page, he says, "every piece in the collection I selected and refurbished myself. Every piece carries with it detailed descriptions full of ideas." That's what you're paying for. His particular style. His particular eye. And when you think of it that way, the price is fair.
That said, if like me, you just like what you like and don't put all that much effort into perfect entertaining or decorating, I think spending this much is a mistake. Just trawl around your local junk shops with your eyes peeled and you'll come across all sorts of pretty milk glass. Buy what you like and don't pay more than $10 a piece. It's a more satisfying way to collect.