I have no general problem with Alan's analysis of costs, and in particular its inclusion of depreciation, but I'm not sure it has much applicability to many posters here.
With the exception of people who are actually making money with their cameras, I think most people here have long ago "amortized" the acquisition cost of their camera equipment. Or, alternatively, they are pursuing the acquisition and use of camera equipment as a source of enjoyment separate from the photography they enjoy.
For all those people, it seems appropriate to separate out the costs associated with actually making photographs when doing the cost analysis.
With the exception of people who are actually making money with their cameras, I think most people here have long ago "amortized" the acquisition cost of their camera equipment. Or, alternatively, they are pursuing the acquisition and use of camera equipment as a source of enjoyment separate from the photography they enjoy.
For all those people, it seems appropriate to separate out the costs associated with actually making photographs when doing the cost analysis.