I have just started feeding them as a sole source for my pony and my two year old filly (with other feeds). I keep a hay bag in their stalls in case they want to nibble real hay, but they ignore it so I am really only feeding hay to Whiskey now.
As for more expensive - not here anymore. I pay 12. for a 50 lb bag of alfalfa mini cubes, or I can pay 13-16 for a 60 lb bale of alfalfa. So not much difference and my horses waste NONE of the cubes.
Ivy (2 1/2) gets daily (divided into two feedings):
12 lbs alfalfa mini cubes
5 lbs nutrena pelleted senior complete feed
3 lbs nutrena select (I think) senior complete feed (has molasses in it and probiotics)
2 lbs beet pulp
1 cup Omega horse shine.
I add all the above into her feed bucket, and water to cover and let it sit for 15/20 min (normally clean stalls and water while waiting). Then stir it all up and she cleans it up - takes her awhile, several hours, but it is gone by next feeding.
Pony gets half of what Ivy gets. He is getting plump :) so may be cutting that down - he was ribby and his topline was thin when he got here so I am trying to get him a good weight.
Whiskey just gets alfalfa mix hay and a scoop of complete feed to put her horseshine in. She is fat. Love the easy ones.
There is no passion to be found playing small - in settling for a life that is less than the one you are capable of living. - Nelson Mandela