I stand corrected. I was using the prices from redis-to-go, which was the only available option last time I checked, and the service with the big prominent link at the top of the heroku pricing page. Good to see that there is some competition in the area and that prices have come down a bit. Still not cheap enough to move my hobby project from a 1GB VPS, but reasonable enough if I ever turn my project into something that might make money.
$125 ($90) is the price of the large instance, which offers 1.7GB of storage.
That's quite a difference.