It's a lovely piece, it would be a great addition to the collection of jewels to be worn by all Queens of Spain due to it's family connection, however altered it may be.
But I have to say I agree with some of the other posters in this thread; a purchase such as this (even if the price tag has been exaggerated) sends a message which could be provocative in the current economic climate of Spain. Perhaps if it were purchased secretly and stored safely away, to be worn at some future date when things improve, it might be more appropriate. One would hate for this to become the Spanish version of l'affaire du collier except with a tiara.