B737's don't pull 8'g'. Hawks aren't supposed to pull 8 'g' either, but that's student pilots for you!
Seriously, the RAF aircraft are being pushed to the limits most of the time, which means they need checking and fixing a lot more often, by more trades. I doubt you need armourers for a B737.
A good Air Force is, of course, still a very cheap opportunity cost. Saddam spent an awful lot on MiGs, Mirages and T-72s, but it did him f-all good. Not to mention the insurance of peace. Peacekeeping is expensive, but the cost of war is astronomical.