Precision is a big name in the after-market turbo world. Quick summary of what I read about them:

They started as a Garrett distributor. Then started making custom modifications to the turbos and reselling the modded Garretts (made their own compressor wheels, etc). When they got big into that and advertising that they made the turbos better, Garrett didn't like that and ended the distribution license. Precision then had to make the whole turbo, including parts of it that they had no prior experience with. They had reliability issues early on, but have improved since then and are now a respected turbo manufacturer.

You can't directly compare Garrett to Precision, because there aren't any turbos with the same exact specs from both companies. The result is that for a given engine, setup, power goals, etc., you may find that Garrett happens to have a combination of specs available that is more ideal for you than anything from Precision, or vice verse.

Based on the limited info so far (0-60 mph in 3.26s, spools quicker, spools at lower rpm, still being tested), it sure sounds to me like cost is not the primary driver for this.