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Certainly is. I replaced my 2007 iMac only a few months ago. @ £2000 original price that's £18 a month!!!
Show me a commercial PC out there that gets used for 9 years for less; it doesn't exist.
I've got a laptop for my business in 2004 that cost me about £500 that still in use, that is still useable now at a cost of less than 40p a month, even if I had to dump it on to my missus as a 'PC'
If you're not playing COD or doing heavy duty applications a PC can last a long time