Personally, I think the opportunity cost of ancient era warfare makes it pretty attractive for most civs. Your analysis doesn't take into account the potential bonuses:
Great Leaders
resource and luxury gains
technology gains, and gold gains due to reduced science rate (why research when you are gonna beat tech out of the AI anyway?)
gold gains
map gains
any new (productive) cities - this primarily applies if you can get a forbidden palace down
damage inflicted on AI
oh - another negative for ancient war: the reputation hit. I try to avoid this by wiping out my neighbors. Once civs learn that you attacked and destroyed other civs... they won't like you much.
-Arrian
Great Leaders
resource and luxury gains
technology gains, and gold gains due to reduced science rate (why research when you are gonna beat tech out of the AI anyway?)
gold gains
map gains
any new (productive) cities - this primarily applies if you can get a forbidden palace down
damage inflicted on AI
oh - another negative for ancient war: the reputation hit. I try to avoid this by wiping out my neighbors. Once civs learn that you attacked and destroyed other civs... they won't like you much.
-Arrian
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