Which really is how it should always be.
Shares are a very sensible way trying to reduce your costs, but there can be some expensive pitfalls if you choose the wrong group.
I have seen a few people who have been offered a share in an a/c , suddenly find that they are liable for a massive bill, basically they were offered the share to try and reduce the costs for other members who all knew about the big bill on the horizon. Not very fair really!
Be careful about the ownership split, if onr person has a significantly bigger share, then sometimes you can be treated as if you were just renting it, rather than as a co-owner.
However, if you do find a good group and a good a/c, then a share is a brilliant idea. You have some control over the a/c and how it's looked after, something you don't get when renting, though you will need to put a bit more work in than just turning up and booking out.
£65/hr for a 172 isn't too bad, ours for instance 172 XP uses at least 40-45 litres an hour so at nearly £1.25 a litre that's £56 straight away! then add in engine fund, maintenance etc. and with a machine like that on a Public Transport CofA then you won't get it for much less.