I sometimes will pay more for an item, just to support the local retailer. That's a noticeable price difference, so that makes it a bit tougher. Still, to have local support and warrant the item locally, it may be worth it.
A couple of times, I'll take a print of the online price and say "I'd really like to buy here, but the price difference is pretty large. I don't expect you to match it, but if you can split the difference I am in."
They often will work with you on that.