Value of Pride of Ownership?

Talent is the real key to make good photos. See Diane Arbus, she wasn't a technical photog still she is the true genius of photography of the 20th century for me hands down!
 
The cost issue, the MONEY, has to be considered over the long haul if you actually plan on using it as a tool. I bought an ugly button rewind M2 body, already 14 years old when I got it in 1972. I knew the guy who'd bought it second hand to take to the 1968 Mexico City Olympics. I knew the UPI photographer who bought it from him. She used it at both the Republican and Democratic National Conventions in Miami Beach in 1972. I bought it from her as a back-up to my M3 and M4.

Even if I'd bought it brand new at the full list price of $200, a good hunk of change back then, it was a bargain. The memories of the people I've photographed, the places I've been, with that M2 are priceless to me.

Since I bought that M2 for $100 37 years ago it's had a couple of CLA's and M4 style synch contacts added, and I put on a new Cameraleather skin a few years ago.
 
If getting a camera will take the person's mind off a new camera and instead onto taking pictures, then buying a new camera will effectively (probably) improve the photography of said person
 
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