The new grass technology as pertains to turf types isn't cost prohibitive. The cost comes in conversion, regrassing can be very costly and time consuming and the shut down time is often the reason why a lower end course can't afford to take the chance on regrassing in quick and effective ways. If you rely on daily income to keep afloat then the only way to convert turf types is to do it gradually and while play is continuing. Establishing new turf while play is in progress is very difficult especially with cart traffic in the mix. In an ideal scenario you could realize cost savings from newer turf types that use less fertilizer and water if you could just get them in place.
+1 on this and SL's comment. For a mid to lower tier course I have a hard time seeing a conversion working out financially. Another consideration is eventually the poa infestation will happen. Not a question of if, but when, and poa cares little about how input efficient the new bent is. Poa is anything but input efficient. So you get caught in the middle of keeping your new bent varietal lean, and the poa alive. Hand weeding is obviously not an option, like with greens. So the fairway will play softer and softer year by year, unfortunately. There are some chemicals (e.g. Xonerate) that are starting to show some promise in poa control, but that's more $$$ still on top of the renovation costs.
If firmness and playability are the goal, my advice to mid to lower tier courses is to take the hypothetical regrassing dollars and instead use them to do the following (regardless of current fairway grass type):
1) Install quick couplers along the fairway to facilitate spot watering. This allows for less overhead irrigation of fairways at night.
2) Invest in a verticutting unit, and adhere to the 4 t's: Topdress, topdress, topdress, and topdress. This is in addition to the spring and fall aeration schedule
My guess is these two pieces will provide playability enhancement at a fraction of the regrassing cost.