Dynodan, you are correct with adding the P60 and UBEC it is another (already had that so didnt include the cost), but lets break it down without the Lithiums as they are not necessary and just a hop up. And just like you can buy used glow stuff, you can also purchase used electric which can and will save you money.
Mega 22/30/2- 100
Superbox- 40
Ubec- 15
P60- 80
14 cell GP 3300- 63.00
grand total of $298.
10 minute flights, 7-8 full out throwing it around. So with those numbers it is no where near $500 and barely close to the 345.95 you spent. If we stopped there that would be fine, but you have a reoccuring cost of 121.95 a year if you fly at your estimates (dont move anywhere warmer or your costs go up

). You have a right to your opinion, but it doesnt mean I agree with it.
3dandpatternflyer, no worries.
It always amazes me at the amount of flack that people who fly flow/fuel planes give guys who fly and enjoy electric planes. I have yet to see an exclusive electric guy go to a thread about a fuel plane and say how smelly or messy or how wrong they are for flying it etc etc. However, I see it all the time towards electrics. I imagine it is fear of not understanding. I know nothing about fuel planes (glow or otherwise) since I have never in my life flown one, but it doesnt stop me from admiring them as it is another aspect of this hobby. I dont have an interest in slope flying, however I respect the people who fly it simply because they enjoy it and it is simply another part of the hobby.
"Those who dont get it...never will"