jassrnj,
IF you end up needing a new compressor, they're about $250 or so from most autoparts stores. However, apparently there were several different compressor models installed on the 8.1's over the years, so finding the right one is sometimes a bit tricky. I believe the clutches by themselves were in the $40-$50 range...give or take.
If it's just the clutch, the refrigerant does not have to be evacuated and the repair is much simpler. If the compressor has to be changed out, then the system needs to be evacuated, the compressors have to be switched. Then a vacuum has to be put on the system and checked for a couple of hours to make sure there are no leaks. Then the new R-134 can be installed.
While $1500 sounds like a lot, from what I remember, that's probably in line with what many places would charge. They'll probably whack you $500-$800 just for the compressor, then for the refrigerant and, of course, labor.
Good Luck,
~Rick