Is NOW really the best time for J. Crew Collection?

OK, I know there are some INSANE J. Crew afficianados out there (me included) but I am on the fence about the opening of the new J. Crew Collection store on Madison Ave.  I mean, I get that on the Upper East Side (a place that sometimes feels like a totally different country instead of a different nabe) isn't really feeling the effects of the economic crisis for the most part.  I just don't know if opening a space right now that caters to rich people was the smartest thing to do. The only way that it could TRULY work is if it generates as much foot traffic as that crazy Abercrombie store on 56th and 5th- you know the one where you can smell the dudes cologne from a mile away? It would be interesting to see how that Lilly Pulitzer store is doing now that I mention it...