My charger's 4th birthday was yesterday. GPS batteries for last 4 years of Audax would be £50 if lithium batteries were used (15100km at average of 18km/h, 35h run time). Of course I get use of the charger for other stuff so the cost of the charger is spread across several applications; and I'm not using a steady stream of new batteries.
I'm glad someone was anal enough to answer this for me.
Like Simon, my charger is older than 3 years and cycling is a small use of rechargable batteries. There's a whole bunch of other stuff in the house that uses batteries (radios, digital cameras, mp3 players, remote controls, gadgets, torches, travel charger, etc) even a pepper grinder that takes 6 AAA batteries (it was a present).
Also, I *hate* the batteries running out whilst I'm in the middle of a ride. With Lithiums I can change the batteries early, but then I'm wasting expensive batteries. Part of this is because my GPS is ziptied on to stop it rattling in its mount.
With rechargables I know they'll last a 300 or a day's riding. There's no problem recharging them if I've only used 1/3 of the capacity on a blast around a summer 100. Longer rides I just change them at a convenient point before they die.
OK, there are the occasional duff batteries (or duff charges) but they're rare, and I carry backup batteries just like everyone else.