I'm sorry did I argue with your figures? I listed the direct operating costs that I had incurred during 4 years of ownership not an hourly rate. I am sure the figures stack up for you.
However in my case I actually got back more than I paid for the aircraft including covering the cost of a new engine which I sold with 100hrs on the new engine. I owned the aicraft without finance as I do the current one. So I had no capital costs or finance and loss of interest is negligable.
The £5000 in maintanance was the 50hr checks, the annual and the unexpected maintanance stuff that arose which included a new propellor, tyres etc.
But whether it cost me more or less than renting a tired old school hack (mine was fully IFR equipped, GNS430 etc.) it still worked out better for me. No 3 hour minimums no restrictions on availability no arriving to find avionics or the whole aircraft u/s. I could fly to Guernsey for a weekend on my schedule and not worry about when I came back.
So for the £100 bacon and 12hrs a year the club hire is perfect for everything else ownership is priceless!!!
Owning an aircraft for me has been an incredible experiance, I have used it for work and pleasure, visited places I would never have considered.
The cost per hour is insignificant compared to the value!