I'm already half way to that £1500 mark .. in four months
Mine still needs brake lines over the rear diff (~£120 part, common fault with repair sections available from LR), rear suspension links (£250 per side), front lower arms (£250 per side), at its age it could probably do with new shocks (£250 each), ARB bushes (cheap part, expensive labour) and four new tyres.
Still .. that's better than some of the horror stories you've probably read on the other forum - like the guy who dropped, what was it, £4k on repairs only to have the inlet manifolds split (common fault on the SDV6), repair those for another £1500 and have something else immediately fail..
THe L494s don't seem to fare much better in the reliability stakes, either!
Ah well.. let's see how much our wallets haemorrhage over the next 12 months
[edit] I'd do it all again, of course, if a nice 5.0 SC V8 popped up..