Okay, I am starting to realize that I am the most naive 36 year old that has ever resided on the planet Earth.
It never occured to me until I read some of your replies to this thread that people borrow money to buy engagement rings. I always thought that the ring is a symbol of where you are right now in your life and how you want to take your fiancee on the journey with you and all that Hallmark Cards stuff! No wonder people are getting such nice rings (not counting the poor quality or fake ones, but those people have much larger problems than debt!!!).
I wish those kids would realize that the last thing they need to do is to start their marriage in debt (whether it be to mom and dad, or the Visamonster)!
PS White_chocolate, your sparkly-sparkly sounds absolutely gorgeous! Your friend has good taste

Just remember though, that there is a world of difference between a 2 carat stone and 2 carats tcw (total carat weight), so don't hit the dealership quite yet!