Hmm.. it really depends on what YOU want from the machine.
Will you be using beans you know are fresh?
What is your preferred coffee? IE: Espresso or milk based?
Will you look at upgrading in the future(beyond 1 year), or would this be it?
However, it mostly comes down to that dreaded disease - upgrade-itis!
Yes, a good grinder is very important, but it has to be realistic for your current set of circumstances.
Most of us try to get people to invest in the grinder early, because we have all done the multiple upgrade of both machine and grinder and rue the money we could have saved along the way.
If I could have afforded a Rocky/Compaq/Mazzer etc. right away, and I was aware of the importance, I would have grabbed one. However, when I began this coffee lark, even $100 seemed pricey for a grinder. Plus, I wasnt exactly earning what I am now, so it not only seemed pricey, it was a stretch at the time.
Whilst the EM0480 is a good grinder for the price, it has not been around long enough to really know its predicted lifespan. With some of the more expensive ones, they have a bit more history behind them.
So, short answer is yes you could go more money on the grinder, less on the machine, but will you be happy? It depends on your expectations.
Hope that wasnt too much rambling.