The New York Times says $.99 pizza is selling like hotcakes:

Pizza experts said the rise of dollar pizza was an economy-driven counterpoint to New York’s more celebrated high-end pizza. Last year, Di Fara Pizza in Brooklyn, widely considered one of the best in the city because each pie is handmade by the owner using imported ingredients from Italy, raised the price of a plain slice to $5.

“I don’t think a drunk college student cares about whether there’s San Marzano tomatoes on their slice,” Jason Feirman, 25, who writes a pizza blog called I Dream of Pizza, said of the $1 pizza trend. “It’s a good business model. They’re not catering to food blogs. The idea is to turn out these pizzas as fast as they can.”

The pizza at Di Fara (home of the $5 slice) is, in my (one-time) experience, completely worth it. However, if a $.99 slice was in proximity to me right this minute, I'd sure as hell try it.