Excellent question, and I think it's something that I didn't address very well in the site/app description. The main problem I was trying to solve when designing the app was to make something that was really easy to use, while still having the features that are missing from many free apps (drag-and-drop reordering, lack of iAds). In my experience, I haven't really found any other apps out there that can say this.

That said, I think you may be right that $1.99 is more than most people are willing to pay for it just because it's easy to use, so I lowered the price to $.99 through iTunes Connect. It doesn't look like the change has been reflected in the App Store yet, though. The $1.99 was a bit of an experiment, since this is my first app.

Also, thank you very much for the feedback.