SpaceX is just beginning. His launch costs are now as low as the Russians (the cheapest). The Falcon 9 heavy will cut that in half, and reusability is intended to cut it by 80% again (10x improvement is the next goal). Watch this animation to see reusability, it's awesome:
http://www.youtube.com/watch?v=8IbxqsWLXsw
Elon has said he will consider the company to have failed if they dont get reusability to work. These cost improvements will make many things possible and change the world. And these too are just the beginning.