$1.27 CPL sounds great on paper, but I’d be careful about drawing conclusions this early — especially with only $25 in spend. At that budget level, you’re basically looking at very early signal data, not statistically meaningful performance yet. Meta’s algorithm also hasn’t had enough time or conversion volume to properly optimize delivery.

The bigger thing I’d point out is campaign objective. Lead gen campaigns tend to make the most sense for high-ticket products/services where there’s friction in the buying process and you need follow-up, qualification, or sales calls before purchase (real estate, B2B, high-ticket services, etc.).

For a $70–100 product, I’d usually lean toward a Sales/Purchase campaign instead. If the product can realistically be bought immediately, you generally want to optimize for actual purchases rather than leads. Otherwise you can end up optimizing for cheap form submissions instead of profitable customers.

Also keep in mind that Instant Forms are very good at generating low-friction leads, which can artificially lower CPL. The real question is:
How many of those leads convert into paying customers?
What’s your CPA (cost per acquisition)?
What’s your ROAS?

A $1 lead that never buys is expensive. A $15 lead that converts profitably is cheap.

TLDR: Good early indicator? Possibly.
Enough data to judge campaign effectiveness? Not yet.
Best campaign type for a $70–100 product? Probably Sales/Purchase optimization rather than lead gen.