Rich of Peak (ROP) vs Lean of Peak (LOP)/Engine operation

[Ernie Martin]

You're essentially right. The only other points to add, and some may consider them minor, are these: a) I would expect the pilot to be somewhat knowledgeable in what he's doing (like you are); b) he/she must be willing to devote somewhat more time to engine management during flight than ROP, taking away from sightseeing and other chores; c) engine is not under warranty (LOP voids it); and d) make sure payback period works for you.

Ernie