Sunfish,
Given the regard that most people here, including yourself seem to have for management, lets answer those.
2. The OPPORTUNITY COST - None. Would have been lost against a wall, paid out in management bonuses, or used to buy 1 of the wrong aircraft (ie not a 777)
3. The cost of management and Board time spent discussing & analyzing - again given the stead that management and Board is held in, isn't that a good thing
4. But the granddaddy of them all is the MANAGEMENT OPPORTUNITY COST. See above.