I'm not sure about how "valuable" those locos are, as scrap. The spot market today (11-01-08) shows culled railroad scrap metal at $222.80 per ton/bulk. This is over 40% off where it was only 6 months ago. The trends are showing all metals in decline, excluding Platinum and Palladium. Just a thought.
Thanks for the "reality check"! ... I assume "culled" means after the locomotive is disassembled. So to estimate the scrap value of a locomotive you'd
----multiply the price of scrap by the weight (that's the easy part, and leaves you in the $30K ballpark)
----subtract the costs of taking it apart
----but ADD the value of high-value components that would get culled before the rest goes to the scrap-metal dealer????