Paul, Nic, Brian, and Frank,
I don't think the Garden Tractors in this forum compare to the Lawn Mowers typically sold at the big-box stores. I also don't think that the argument that an older Cub Cadet makes better economic sense is an especially strong one. A person can spend a lot of money and time fixing up one of these machines.
I think a better argument can be made for the tractor's utility and quality. A Garden Tractor can do things that can't even be imagined by a lawn mower. Also, one never rides around the yard ENJOYING the seat time in a cheap, tinny no-name (same-name) lawn mower. The machines simply don't compare.
But if ONLY money is counted, a case can be made for buying an $800 tractor and discarding it when it starts to act up or needs repairs. In a similar fashion, if one can determine the condition of an older Cub Cadet, a similar price is justified, in my opinion. However, if $200 buys a 40 year-old tractor that needs all its tires replaced, its entire suspension and steering re-worked, its driveline replaced and its motor re-worked --and all you want to do is mow your yard, the wife may have a point: it doesn't make economic sense. A refurbished 149 that is mechanically correct is worth $990 and its purchase can be defended.
On the other hand, if you enjoy working on things mechanical, and you find that working on automobiles, trucks, and boats is too expensive and takes up too much space (not to mention getting too complicated, in the case of automobiles & trucks), then a tractor hobby makes sense, and sooner or later you learn to pick and choose those projects worthy of your time.
For What Its Worth, My Two Cents, etc.
By-the-way, at my local Cub Cadet dealer, the Cub Cadet is now the low-end of the lines offered; the high end is Kubota, and the mid-line is Bad Boy.