You should be excited. My first PFM was a PFM III, loved it so much I now have a I, II, IV & V also. Quite short uncapped with nice girth and very light. They write like a typical Sheaffer, smooth with good flow. IMHO there amongst the best pens ever made, both modern and vintage. My all time favourite pen. Be careful though they are very addictive, much like the Parker 51. Please let me know how your new pen works out.

Not exactly sure why the PFM I is the cheapest, think it may be because they are amongst the most common along with the PFM III. The PFM II, IV & V are harder to find in my experience.