@dayers1234,
Hi, Certified Master Textile Cleaner (my documents read "Technician" lol) here. Don't spend $200 to protect the piece, unless it's a piece worth about $2,000 or more, and you feel you need the peace of mind.
$200 is a good price for all three pieces if it includes a warranty. In my cleaning biz, I applied top-quality protectants for just over $100 for an average sofa with cushions and I know a lot more about protectants and textiles than the regular Joe who will spray stuff on your new sofa.
Now, for your $200, though, you will probably receive a stain and repair warranty from Guardsman or another similar firm. So you're not just paying for protectant--you're buying a warranty too. But, read this whole posting before dropping your $200!
First of all, not all brands are created equally. One has to know what the fabric is made of before choosing the correct protectant. We routinely carried six different ones and used the right one for the right job, <i>in the right quantity and properly applied.</i> It isn't rocket science, but in my experience the guys in the back of the furniture store were not trained to properly apply it, and frankly didn't care. It takes them less than two minutes to apply it. It takes about 15 minutes to apply it properly, which includes fiber ID, bleed-testing, measuring the right amount of product, using the proper spray pattern and size, and application pressure.
You can buy Scotchgard(tm) over the counter, but it won't be professional formulations, and you are not an expert. However, you can do it yourself. First of all, READ THE CANS. This will take about an hour in the store, because there's Scotchgard, & DuPont products and varieties of each.
You DO NOT want anything with silicone!
You DO want something with "Fluorochemical" or some variant of "fluoro" in it.
You DO want to use the right amount. Don't skimp or your protection will not be sufficient. Don't overdo it because you will change the texture of the fabric (probably permanently). More is not better, but less is not enough. Take some time to determine how much to use.
One can will cover x square feet of fabric. A microfiber will be more absorbent so will require more, but not a lot more. You need to know about how many yards of fabric it took to make your sofa and pillows, then figure out how much of the can (or number of cans) to use on yours.
Oh, as a side bar, most microfibers are 100% polyester. The article posted above regarding "easy to dye" is a little misleading. Polyesters are usually colorfast because they are solution dyed, meaning the dye is part of the plastic fiber itself.
Because they are solution dyed, Polyesters are resistant to staining by most acidic dyes (Kool-Aid, ketchup, etc.). However, polyester is very susceptible to oily soils such as body oils, buttered popcorn, etc. This is why I won't buy microfiber upholstery. The grooming oil for my hair will stain it.
Remember that maintenance is key to your furniture's longevity and good looks. You need to vacuum the high-use areas at least weekly. Clean up spills very quickly. Get professional hot water extraction cleaning at least every 12 months.