Frank and group:
Just a couple of points.
The BOM isn't JUST about ARF's...suppose I want to fly a real, top notch, full out plane and (other than a couple of the $2,000 ready to fly birds), I realize that I can buy a year-old, nats winner. This might be a 20 point model that is in trim, and flying at the most competitive level.
Now these won't come cheap..and that will become a part of the potential issue. THe guys willing to pop for a 1500-2000 plane will have vehicles that thoroughly out-class most common man ARF's. It will become more about your budget than flying and building.
Also remember that the BOM as a qualifier to entry is only in effect at the AMA Nationals. All other events are run without a BOM.
As John pointed out, the separate issue of appearance points is still in effect but there is nothing preventing a pilot from flying a model no matter who built it.
Finally, I agree with the opinion regarding time spent on flying v. building--except at the highest levels of competition. For most events, I could EASILY add the 15-18 points my planes regularly get by practicing for the only a small portion of the400 hours it took to build one instead. If you are a 12-15 point builder, the equation gets easier yet to justify. But I enjoy the event BECAUSE of the building.
Finally, finally

, even if we awarded appearance points to ARF's, based upon what I have seen, 99% of them would earn nearly a worst possible score. I have judged a lot of planes and most ARF's are not all that attractive--poorly fit and badly carved cowls, badly fit and non-filleted wing joints, bubbling film covering, REALLY bad canopy installs, etc, etc. Not all of them, but most. (The Yatsenko SHarks are a notable exception but at what $?)
Just a couple of late, random thoughts,
Cheers to All, and have a fun summer flying whatever you can.
Curt