Yes, they're nice to look at, but unlike, say, emeralds, they're not very rare -- they're simply controlled by a monopoly supplier. Manufactured diamonds will bring back a competitive supply which would exist if there was a healthy assortment of companies in the diamond mining industry today.
I do question your judgment in wanting to cover yourself head to toe in diamonds :) Do you also want to drive this car? http://www.diamondvues.com/2007/04/check_out_this_diamond_st...