Interesting. How long ago was that? How much would the cost/benefit analysis change with today's gas prices?
In your case it was cheaper, and you were very responsible with breaking down the costs and seeing which option was better. However, I think this...
More importantly, sykerocker is correct; there are no words that can accurately describe the feeling of freedom; it really is euphoric and stays with you for the rest of your life.
Is much more at play with car ownership in America. How many people actually sit down and crunch the numbers the way you did when you got your car? I don't think it's very many. Other less rational factors come into play. People feel they feel to own a car or they'll be considered a loser, so they get one as quickly as they can even if they don't need it. And they certainly wouldn't be the minimalist that you were - they need to get the best. Also many people don't even have the option of public transport like you did, so they really do need the car....