Science & Industry

But I was just about to break out the popcorn & watch the nerd slap fight begin

Yes and no. Some ships were profitable, some not so. Part of the calculation is that making a T2 ship requires the T1 ship as one of the ingredients. Tiercide changed many ships and that's one of the issues. Some ships are available on the market for far less than it costs to build. T2 ships built before the recent moon goo changes are going to be available for far less than you can afford to make them now. Your calculations (or estimates) of profitability need to take into account that many come from stockpiles built under different price and mineral regimes. Or that prices are depressed because someone ganked a freighter full of something in Niarja and they're selling it cheap in Jita.

I think that the new moon goos will drop in price in due time.

And some ships were so unpopular and unprofitable that the folks owning the T2 bpo would make more money selling copies to suckers (like me) than making the actual ships (it takes about 2x as long to make a copy of a T2 BPO than it takes to manufacture the item). I know because I bought some before I learned to do the math (some T2 frigates will lose money even with a ME 50 BPC - oopsies), and others I purchased because it was worth it to acquire a lifetime supply of runs for some things like null-sec T2 mining crystals.

Making T2 stuff involves a lot of little fiddly bit sub-components. Each step in the process takes spreadsheets and thought. Some of the components are cheaper to make than buy, some are not. I've found errors in all of the web pages that show cost to manufacture, so you have to double and triple check every bit of math. Someone offloading a ganked freighterload of materials will throw off the make-versus-buy decision so pretty much need to check the math before every manufacturing job. There is no shortcut.

What is profitable also depends on what is popular. What doctrines, ships or items become popular this month. Someone with the time and energy to check new expansion features out on SiSi will be a month ahead of the rest of us. I'm not the smartest guy out there. Really smart people run queries off of killboards and are able to come up with the top items used in PvP like this guy:
http://k162space.com/2012/11/02/high-volume-pvp-items/
I'd really like to get as smart as that guy.

Our corporation was making T2 ships - doing the inventing, moon mining and manufacturing. The recent changes in moon materials changed so much that what we were doing became unprofitable. It went from paying for 2 towers and making profit on top of that, to losing money.