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I'd have to agree with your sentiments here, but it's still early days, and as a learning experience it's hard to put a ''price'' on this, as Rickardo mentioned... I'd add also that what is more significant here is the ''opportunity cost'' incurred in a development taking 3-5 years without...

Michael, there is also a chance that you may not be able to negative gear with HDT's at all (even if you are CF+ve, there are implications here when re-financing)... even the supposedly ''well written'' ones. I'm overseas now but am going to get an update on this next week.