So, therefore, I would not be completely crazy to consider a contract, correct? There are others who are purchasing contracts with sound reasoning, correct? There may be better ways but it seems easier than going through an exchange and purchasing BTC.
It's a gamble. The only reason to do it would be if you think mining is a profitable business. And keep in mind that in 2.5 years, the block reward drops from 25 BTC to 12. If you just want to buy BTC, I recommend using an exchange.
But there must be many other who believe it is an ok gamble, correct? My contract would just be for one year. I already have a small contract but I can now get many more gh/s for the amount that I paid for the first contract. It's sort of a way of "averaging down". It's makes me tempted. I also find the exchanges to be off putting as I don't want to hook up my bank account to it, etc..