Using a telecompressor doesn't shorten the register distance per se. One way to implement this is to put an an adapter on a MILC - you take a DSLR-to-MILC adapter (eg EOS to NEX, in the Speed Booster) and you use some of the empty space inside the adapter to fit in the telecompressor optics. If you're talking about a DSLR, the register distance still doesn't change (eg Nikon E-series), the telecompressor acts as relay optics and optically alters the register distance to provide space for the telecompressor optics.
You're probably aware of this, just being clear. I agree that a "switchable" telecompressor is not practical. If you wanted to do that, you would build a MILC and then have two different adapters to K-mount, one is the Speed Booster adapter with the optics and the other is just a standard empty-tube adapter. If you built a DSLR body, it would probably have to be permanently one way or the other, but the Nikon E-series and Minolta RD-175 show that it is
possible to build a telecompressor into a DSLR on a permanent basis, without altering the register distance of the mount.
Regarding cost, I think it would be reasonably affordable. The K-01 launched at $750, the Canon 6D at >$1500, a Metabones Speed Booster is <$750, so APS-C+adapter can match the cost of FF. That's kind of a worst-case scenario since both the camera company and the telecompressor manufacturer have to make their profit. China can clearly crank out (sub-par quality) telecompressors (Lens Turbo) for a very modest cost of <$150, and they're not losing money. I think if they were a mass-produced first-party product instead of a niche third-party product you could easily bring the Speed Booster cost from $750 down to sub-$400 while keeping the quality. I don't have a good reference point on what it would cost to build a telecompressed DSLR, but big sensors still aren't cheap, while it's certainly possible to make cheap optics with mass production.
Another interesting possibility, if you made a 645 mirrorless camera you could use the mirror space to put a telecompressor in there. Imagine a crop-sensor 645 that got the full-frame 645 field of view. You'd get savings from removing the mirror assembly, but let's say it cost an extra $1000 anyway, it would still be a tiny fraction of the cost of real 645-full-frame digital MF backs. That would truly be a killer offering. AF performance would suffer but who shoots sports on 645 anyway?
Last edited by Paul MaudDib; 06-03-2014 at 01:48 PM.