I'd do it. Sounds like a fair trade value wise on both ends. Also, the Desert Eagle is not something that everyone else at the range has so it has the cool factor leaning heavily in its favor. I own the same MK VII in .44 Magnum and it is one of my favorite guns of the dozens that I've owned. The Desert Eagle is plenty reliable assuming proper grip, ammo, and maintenance. It is very accurate, and hits with a lot of authority. Recoil is quite manageable in .44 and if it weren't for ammo cost I could shoot mine all day. Size is pretty huge, but I feel some folks exaggerate it. Aside from being very heavy, it is not dimensionally a whole lot bigger than say a Beretta M9 for example.
Personally, I intentionally sought out the older MK VII over the newer MK XIX because I have no interest in using the .50AE barrel, I like the looks of the older models better, and because for whatever reason... I just wanted mine to say Israel Military Industries. If you think you might want to later add a .50AE barrel, I'd pass on this one and seek out a MK XIX version because it is cheaper and easier to convert the newer pistols.
Ultimately, these are expensive pistols considering that they are something that you are highly unlikely to use for a carry gun. I'm into mine for around $1,100.00. Still, 8-9 rounds of .44 Magnum before a reload is nothing to sneeze at, and it is a pistol capable of dropping just about anything found on American soil. Ammo is moderately affordable as far as magnum calibers go, and can be found almost anywhere. Some call it a novelty gun, but between accurate target shooting, hunting, and personal defense from anything on two or four legs... I'd say it is quite versatile.