On the plus side, $120 (including shipping) isn't the biggest loss and, in many cases, worth the risk. While delays are always to be expected with R&D and manufacturing (not just at a kickstarter level), 2 years is a lot to ask for investors to wait, especially in these times when a 6 month old phone is already outdated.
Last year i bought a $300 prusa that outdoes my makerbot 2x on every aspect of printing, and the makerbot is only a couple years old, if i'm not mistaken (and 8 times the price!).