In June the Eclipse was listed as costing $1.52 million with an operating cost of $340/hour. The next cheapest jet goes for $4.5 million and costs twice as much to operate.
The more I fly commercially, the more I want my own airplane. I generally get to the airport about two hours early if I’m flying out of LAX. (SNA isn’t so bad.) It takes two and a half hours or so to fly to Seattle. There can be an hour layover in Seattle, and then another 45 minutes to BLI. A flight from SoCal to Bellingham usually takes a total (including security checkpoints) six to eight hours.
Dad and I used to fly his Cessna 172 from Lancaster, CA to Medford, OR. It would take about seven hours, including a fuel/meal stop in Red Bluff for about an hour. (The 182 was faster and had long range tanks, but we’d still stop in Red Bluff for a bite to eat.) No security checkpoints. (That was a while ago, but still…) So it takes about 15 minutes to preflight the aircraft. Figure about 115 miles per hour in a 172 inculding the fuel/food stop. That would mean about 11 or 12 hours to fly a Skyhawk from L.A. to Bellingham, including another fuel stop.
That’s a long day. On the other hand, I’ve frequently driven 19-20 hours in a day. Personal flying can be more fatiguing than driving (dehydration due to altitude, not as much room to move around – Cessna seats can get a little uncomfortable around hour six, flying is more mentally challenging than driving), but you also don’t have to watch speed limits and traffic isn’t that much of an issue (it’s a Big Sky
). So it can be done.
You can carry your box cutter if you want to. Or a hunting knife or a disposable lighter. Or whatever. You don’t have to take your shoes off. You don’t have to worry about missing a connecting flight. You can take as much baggage as you like (within the weight limits of your aircraft). You make your own schedule, rather than having to be at a certain place at a certain time. The view is much better. And you’re flying yourself! 
Avgas is – what? $4/gallon? If you burn 9 gal/hr that’s about 100 gallons over an 11-12 hour flight. So with a meal or two that’s about $500 each way, $1,000 r/t. When I went home in July it cost (IIRC) about $565 r/t. So flying a Skyhawk would cost twice as much as flying commercially and take twice as long, and you’ll be pretty tired at the end of the flight. But if you fly with a passenger the per-seat cost comes in line with flying commercially. (A Skyhawk will seat four, but you will have to make more fuel stops if you can’t get everyone and their bags in it and keep it under gross weight with full tanks, and a heavier aircraft will burn more fuel.)
I’m not counting the cost of the aircraft (a mid-'70s Skyhawk costs around $50,000) or other costs (cost per hour to fly does require taking into account the cost of maintenance – e.g., overhaul every 2,000 flying hours, annual and possibly 100-hour inspections, etc., insurance, tie-down, and so on), or training. Still, the cost of flying yourself and a passenger isn’t all that much more than flying commercially. the big factor is time. Is it worth the extra time – twice as long on a long trip – to avoid the hassles of the modern commercial airport? I’m beginning to think so. If you’re making a shorter trip (say 400 to 500 miles) it may actually be faster to fly yourself than to take a scheduled airline, as has been shown numerous times in ‘races’ conducted by various flying magazines. (Of course, they would say that!) One big advantage of personal flying is that you don’t have to fly to or from a major airport. You can get much closer to your destination. For example, I could fly directly to Bellingham (or to Blaine, for that matter) without having to change planes in Seattle. And my baggage will stay with me. The other big factor is weather. If weather is poor you’ll need to be rated to fly in it, your aircraft will need to be equipped for it, and you’ll be flying in weather that airlines fly over.
Still, even with the longer flying times (on a longer trip), the expense of aircraft ownership, the initial and recurring training, and the higher probability of weather delays, personal flying is becoming ever more attractive to me. And I’m talking about a Skyhawk. A Quickie Q200 or a Rutan Long EZ will approach 200 mph and burn less fuel. (Though at the expense of baggage capacity, and the fact that you’re flying an amateur-built aircraft.) Personal flying will never be ‘cheap’, but if people catch on then demand may cause aircraft manufacturers to make more airplanes resulting in more used aircraft on the market, which may make them a little more affordable.
But what about the Eclipse? Six seats, right? Five for passengers? Good for corporations, I think. I can’t see them being used for flights from L.A. to Bellingham because A) How many people will want to go to Bellingham? B) Such an operation would probably require security measures similar to those used by major airlines; and C) I’m not convinced that ticket prices would be cheaper than regular airlines. The biggest factor for charter/air taxi would be the ability to get closer to where you want to be.