You don't need to use the Skin Prep for it to work. I never do, so that elminates $45 there.
Also, with Cover FX you can use it on your legs as well. I've covered tattoos with it. It also lasts a lot longer than most brands I have experience with, so you end up spending less in the long run. I use Natural FX (the liquid foundation from Cover FX), literally use it every single day and a single tube of it can last an entire year. $37/year on foundation? Yes please!