Hi WW,
Sorry I don't mean to continually mention BA, it's just an example that for similar pricing you can fly with a non-LCC hence better value for money. I tend to compare EZY and BE as both are LCCs operating the same route from my home base with what I can see as the same level of service but with vastly different pricing.
You are correct that there's a price on time. I travel to the islands a lot with work. Either we can go with Loganair and get charged an arm and a leg, or drive for a couple of hours and get a ferry for under half the price and no luggage restrictions for all the tools and equipment I have to carry. That way it can take the best part of a full working day to get anywhere, or under an hour by air.
You pays your money and takes your choice, as they say...