Is this hanguard worth the price it costs, and I cant see in the pictures but does this handgaurd have side rails too?

There are literally tons of threads around with pics of the SIR on the rifles of various different forum goers.

Check out the RIFLES, BARRELS, UPPERS AND MORE section of this(AR15) site.  pinned to the top of the page is a thread about SIR and FIRSH tests.  You can read alot there.  There are also tons of other posts on the system around these parts!  

Is it worth the cost?   I have one and like it.  I have alot of other crap too and like it as well.  If you want a good MWS it is right up there with the rest but like anything it has it's pro's and con's!  

Also,  Yes it has rails on both sides and the bottom, and of course the top!  They are removable and placement adjustable!  Good luck!

i like my SIR.  i'd shop around on the EE for some deals first though.

Yes the SIR is worth the price and yes it includes side rails.  The side picatinney rails (numbered 1 and 2 I believe) are about 5 rails long which may not seem long enough but they are.  These rails can be removed, moved to another position, or can even be replaced with a longer rail.  Also the ARMS SIR free-floats your barrel which is a big plus.  The C version (Civilian) does not require the barrel to be removed whereas the M version (Military) version does require barrel removal.  Maybe this will help.

The only con about SIR I can think of is its weight. My 14.5" carbine with SIR and Aimpoint weights more than my 20" gov't rifle.

In reality, the M version only requires the delta ring to be removed. You can easily accomplish this without removing the barrel.

We've had long and heated discussions debating the worth and value of the SIR and similar systmes. In the end, I believe the SIR is not worth it for everyone. However, to those people who want to increase the overall performance and modularity of their rifle, it is invaluable and we would probably even pay more for it if we had to.

Just curious, does your 14.5" carbine have a heavy barrel? If so, a 14.5" heavy barrel carbine with no optic or SIR already weighs more than a 20" Govt Profile barrel rifle.

No my 14.5" is a M4 profile.