I dont know boo about R-22s but your question applies to most all.
If you can get the machine cheap and get the work done properly at a good price, it may be a good deal.......The other thing is............IF your not in the industry and know nothing about Helicopters, you might as well hand the folks your wallet and bend over.........cause your gonna get hosed.....
This is the difference between having your own shop, having someone do the work or buying a new machine. Those three mentioned items will get you three different prices.
If you plan on doing a "Project" you had better have someone trustworthy and I mean someone who thinks you will kill their firstborn if they screwup or cheat you. I have seen too many folks eat big repair bills.
Hillico writes"but I do remember reading in one of the mags about a US law department that wanted to finish with its 206s as, with 26000 hours on, they were uneconomic to run."
I believe that was Los Angeles PD. They have a huge fleet and a bigger budget, so economical may not have been the factor. Someone just wanted newer toys. California Highway Patrol is the same they have tons of money and spend it like its water.
Los Angeles Sheriffs Office for example just dumped all there MD900s?? or something like that and bought a bunch of AS-350s. When money is no object ,your only limited by your imagination.