yeah the frame = 1/2 cost thing is probably not that accurate. many manufacturers use the same frame at different price points for a model. so the hi-fi frames are all the same, excepting differences in size, shock, and the material used. and i think theres over a $1000 difference in cost between the hifi and the hifi pro, which would skew the 1/2 cost calculation.I've heard that the frame is about 1/2 the cost of a bike.
I doubt that works but you could figure the cost of the components pretty easy and bounce that against the MSRP.