Whats this? Anybody know any history what this was all about? One thing I know, its way over priced!

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=30&item=5932549588&rd=1&ssPageName=WD1V

Well I think the 1952 date is wrong.
Zenith came out with the Flash-Matic in 1955 and the Space Command after that (1956?)
Still it's pretty interesting, it looks 1950's, especially that Secret Decoder bit!
Can't be too many of them around?

correct, space command was introduced in 1956 (space commander "200").