I agree with Ed, on the upgrade policy. For current owners, the upgrade path does allow for a price point that is more manageable. Overtime the upgrade allowance has gotten to be less, but it's still way above the Market value for used.
It was interesting to see the reference to the 14K price to go from the P65+ to the IQ180. Looking back, that was the step I missed, and should have taken. That was a great deal, and the last of the great deals as far as upgrades go from Phase One.
The flip side to the upgrades, is simple, it forces the "new" list price to be high. I am not familiar with Hasselblad's policy on upgrades and if they offer as much for used backs. But Phase does, so the list price is high also. This hurts the photographer who is looking to purchase for the first time. My first Phase Purchase was a P45+, when Phase offered:
The P45+, 80mm and 28mm non LS version (it was the Mamiya made lens at the time) for $27,500.00, all new with but the value add warranty was not included as it is now, so that was 4.5K extra. I ended up using the value add quite a bit on the P45+, long story, but it more than paid for itself. I am still selling large 75" x 140" prints that were taken with the P45+, (stitched) that hold up well to printing, and enjoying reworking a lot of my early work with the P45+ with the latest version of C1.
The other issue many photographers seem not to take into account, is that such a purchase should be depreciated on your books over at least 3 years if not 4. Thus the cost to you is not as great as you have used it on your books over 4 years and that can have benefits for taxes (LLC and a schedule C).
I also agree on the advances with Capture One in that the support for the older backs continues to improve. The images I have made recently from 2008/09/10 from my P45+ are vastly improved over the results from C1 6 and 8. That is a great advantage also. Not to mention that all of that is free since you can always use C1 in the DB version for only Phase files and tether also.
What also seems to be happening is that a lot of photographers who have purchased Nikon, Canon, or Sony etc. in 35mm DSLR are moving towards MF, but are a bit thrown off by the purchase model. Yes, it's different, you really need to work with a dealer, and in the US there are not too many, 3 maybe 4, and that is for the entire US. It's a much smaller world than the DSLR market and you really cannot equate the same things from 35mm to MF, especially support. There is not a US number to call for Phase One support, at least I have never found one. You must contact a dealer or open a trouble ticket online. The later will not really help too much with a hardware issue. I have bricked one back, with a firmware update P45+ and never want to be in that position again. Note the current status of the latest firmware from Phase One for the IQ backs, which Capture Integration has stated is not a good load currently. Usually you can get back to the base firmware, but it seems in this case a bricked back occur. Again, the dealer channel support is important.
Overtime this may change, but the current Pentax model has not done much. Support is still in Japan, (for fixes) and thus if you need to send off a camera, you may be waiting for a while. Pentax now offers a Premium support offering, but I have only found this offered when you purchase the 645Z in a kit with several lenses. This does offer at least a loaner camera (not sure if a Z body is guaranteed) while your camera is being repaired.
Time will change this, but for now, the Phase One purchase model is a fair alternative to get into the latest Phase tech, if you have an existing back, that is IQ1, 2, probably not as good now for the P+ generation.
Paul C