I glanced through the reward levels and I think he's done a smart job of pricing them.

A lot of people make the mistake of setting the reward levels at store pricing levels rather than rewards. Printed t-shirts are fairly expensive, especially when you add in shipping, so it's easy to end up with very little margin on a reward level that includes a t-shirt, especially if it's near the $15 dollar level (which is pretty much cost). It's smarter to use intangible rewards (like digital goods) that have near zero incremental cost or to make sure that you have at least 100% margin on anything else. Assuming that you're running your kickstarter for financing and not as a pre-order store.