Years ago things weren't so good. I tried it 3 years ago, went back to smoking and came back about 3.5 months ago. At least for me about 8 months ago would've been when I should've tried it. That's when what works for me came out.
Is it cheaper really at all? Seems like I just burn through theese cheap kits then go smoke in anger.
See my counter.
About 30 days ago I was almost even. I bought a spare kit and some parts. About a week ago I was closing in on being even again and I bought some 0mg liquids to start working on getting down to 0mg. In 30 more days I'll be even again. I have plenty of parts and juice to make it that long.
I may need more parts by then but I'm at least able to stay even.
Note that I do not go for the cheapest e-cigs and I go for one of the more expensive liquid companies.
Had I skipped the spare kit and 0mg liquids just going for the attys, today I would be about $225 ahead and I'd have a month's worth of liquid easy.
That's my experience. Whether it's cheaper for you depends on what you smoked and what you vape. If you were RYO you'd be hard pressed to make it pay no matter how cheap you vape. If you smoked name brand it would pay off quickly.