Technically, the Speedmaster Reduced doesn't count as a Moon Watch (as 5? notes), but it's a nice watch, nonetheless. What I don't like about the early version is the cluttered dial, due to all the minute numerals. I'm also not fond of the bracelet design, which is much cheaper looking than those on contemporary Speedmaster Professionals.
$1100 is right in the middle of the Reduced's price range. I've seen many sell for far less than $1000 on eBay. ($505 on July 14, which is the lowest I've seen.) I suggest you try a Professional and decide if you would prefer to save an additional $400-800 for a decent second-hand Pro.