This prompted me to do the math (gross).
For 2 years, 1 month and 2 days, Owning a 1961 Comanche has cost $51,175 in exchange for 362 hours of defying gravity in style ($140 / hour).
This doesn't include hotels, Oshkoshes, Sun n Funs, Checkrides, CFI fees, etc.
Now, $27k of that is fuel. Fly less, spend less.
Is it worth it? I don't think so but I'm also not going to quit.
So what I think I have figured out is this is all pretty irrational and I'd say, don't ever do the math.
You fly a lot. I would argue the average owner probably flies about half of what you fly. It certainly is true for me since I bought the Comanche. I used to fly 120+ hours per year but with the Comanche I only got just over 90 despite taking more and farther trips - it just flies much faster lol.
So, let's cut fuel cost in half, that means, based on your calculation, the average owner would spend about $12,000 per year on stuff and just under $7,000 per year on gas. That's a total of under $20,000 per year on a hobby. That is not bad. And this is for a sweet a** plane like a Comanche which is also rather thirsty! I doubt there are a whole lot of other hobbies for less than $20,000 per year.
If some of the plane trips you make throughout the year would have otherwise been conducted by commercial airline or car, that would effectively reduce the $20,000 figure as cars need gas too and airline tickets cost money. If part of the flying was for business reasons, that would reduce the cost as well, due to potential tax write offs. Then there is a bit of opportunity cost to consider in that scenario as well. For example, when I have to go see my employer, after a 7+ hour drive, I would usually arrive, fall into my hotel bed and do nothing for the rest of the day. That same trip is 2-3 hours of flying, I usually arrive and can still get some work done, have some meetings, etc. That's worth something. Same when going on vacation for that matter - driving to Florida is a three day adventure. It's basically driving, sleeping x 3. When we fly, we can do it in one or two days, depending on weather. Even if we split the flight, we stay somewhere overnight and still get to do some sightseeing, eat at a restaurant, sleep in the next morning - that's worth something you can't really put a dollar amount to.
My boss is a part owner in a CJ3. Since I brokered the deal for him, I know his exact cost. Forget about the acquisition cost of his share, his annual "overhead cost" alone is nearly $100,000 and that's before he spends a minute flying the plane. Now, that's some serious money for a hobby lol.