Thanks for putting the summary up. I have seen that the price between different exchanges takes some time to catch up and sometimes doesn't. Currently the BTC/USD quote at Coinbase is $1808.21 and on bitstamp is $1798.99.

It's not purely an indication or speculation of what the price can be. I guess this is directly dependent on how liquid a particular exchange is. The more liquid an exchange is, the better opportunity for price discovery.