I looked at the iFitIt kit and from what I can gather the parts if bought on your own should be in the $3-4 range plus the cost of a 5V/1.5A power supply ($5-6). Always gets parts from DigiKey. They are using a simple voltage regulator, the National
LM317AT. It outputs a max of 1.5A and has an adjustable voltage output. The resistors they are using suggests they are regulating between 3.3 and 5 V. I should be able to figure out the circuit from the pictures plus they have also specified the resistor and capacitor values. I highly recommend getting these parts and making the circuit on your own. Let me know if you have any other questions.