Having been in partnerships, flying clubs, and mostly individual ownership, I vote for personal ownership. As I once saw in an an advertisement: "The best part is just having the keys in your pocket". I've owned a Trophy 261 conversion (essentially a 231 converted to a 252 plus some speed modes) for about 16 years, and now a 201 for about 2 and a half years. I bought each of them with a different purpose in mind. The 261, with long range tanks (115 gallons) was the perfect machine for long flights from San Carlos,CA to FL, and then the British West Indies. I generally flew eastward well into the flight levels to get into the lower levels of the jet stream, and several winter trips were remarkable for their ground speed. I paid the price in fuel burn,
mostly in the climbs to altitude, cold cockpits, dry nose and mouth from the continual use of oxygen, and sore bottoms (sometimes seven hours at a stretch), and I was at gross at takeoff with just me, my survival gear, and full fuel. Yet she was a great aircraft for its purpose. Returning to CA almost always was flown at 14,000 - 16,000', or less, to avoid the same strong winds that were helpful eastbound. My 201 was purchased for fairly local pleasure flying, with some 600 to 1000 mile trips, and has proved to be perfect for that sort of flying. I can keep below oxygen altitudes all the way to Texas, and further east, by using the southern routes, for example: KSQL,OSI, SNS, PMD, Soggy, PSP, BLH.......... All in all, the 201 does everything I want, at lower costs (fuel and maintenance) than the 261, and as a fun aircraft, well Mooney had it right with this airplane.