Here’s a Gearslutz thread I started about it that helped me eventually decide to go that route: http://www.gearslutz.com/board/electronic-music-instruments-electronic-music-production/872948-should-i-consider-patchbay-rack-mixer.html
Figure it might help you to weigh out some options.
One hidden cost of going the patchbay direction is cables. If you are in the States, I highly recommend Monoprice.com. Cost me around $100 to wire everything up, including extra cables for patching from the front panel.