I've always liked Molyneux. I feel like people are wrongly blaming him for Fable 2 and 3 (and the Kinect one). Blame Microsoft for forcing them to push out sequels every year instead of trying new stuff.
Also Cube (the iOS app) is pretty cool and creative, I think he is a clever guy and I love his interviews.
450,000 sounds like a lot but he's not doing it himself. I would imagine that the game will cost A LOT more than that.