I read with interest the title to this thread. I have read all the comments since it started and think I should say something about the "other" charters that are available.
As some of you hear know, I have been running steam photo charters since 1989. Over these past decades I have put on quite a few such trips, often 2 a year. Most all of these trips over the years and even recently have been priced at less than $300 for the event. Some of these events at that price have been over 2 days with night sessions. Here are some examples obtained on my trips at these prices.
Several factors go into me keeping the cost down. First, I work regularly with many of the railroads that I use to host the charters I run. This gives me an advantage in pricing. It also means I know the crews personally and the railroad intimately so that I can do most of the leg work to arrange the train, schedule and crew myself. This saves the railroad from having to spend it's time and resources to figure out what me as the charter operator wants. I also do not usually provide food or other amenities that would dirve up the cost. My trips, for those who have attended them, tend to be "bare bones" but with LOTS of run-bys.
Sure, I have help Pete Lerro on some of his charters here in the West and Pete puts on a good event. He usually has food, actors, props and other features that add to the experience. His prices are certainly more than mine, but he gives good value as well.
In summary, if you are looking for good charters, they are out there in all kinds of price ranges if you ask around. Just because you pay less for a charter does not mean you will get less, and the same is true on the other end of the price scale. It pays to ask someone who is familiar with the charter operator for a particular trip. This will generally tell you if the price you pay will give you the value you want.
Martin