Originally Posted by bob_tiger
Also the happy hours help get points faster which makes it easier to get medals
No, happy hour points are not taken into account for the iron man challenge.
As for how worth the challenge is, that's a bit tricky to assess. i think the best value in the ironman store, especially if you have rakeback, is the 26$ token for 140 medals. That makes a medal worth $0.186.
The cheapest way to get bronze, silver, gold or iron are to collect 1000, 1250, 2500 and 5000 FTPs respectively. you typically get around 8 FTPs per $1 of MGR, so that's $125, $156, $312 or $625 of MGR.
if you take the bonus medals, the first month you get respectively 50, 80, 140 or 200 medals for each level. If you keep that level for 13 months, than it gets to be 85, 140, 245, 400 medals. In $, that means $9, $15, $26, $37 for the first month, and $16, $26, $45, $74 after 13 months. That's between 6 and 12% additional rakeback.
Then you have the mid-year bonus of $25, $50, $75 and $100 per month, but those are deducted from your MGR, so they are only worth $18, $36, $55 and $73 respectively. That's another up to 12% additional rakeback.
So if you play exactly for 200 FTP points per day, 25 days a month, month after month, the ironman challenge adds about 24% rakeback to your standard 27%, which makes it 51% in total. Pretty cool. Of course that's ideal conditions which will mostly never happen.