John, it appears that you are right regarding the Velvia costs. That said, currently the Japanese site appears to have updated to the new Fuji price increases from Feb the 1st. Badger would be running from existing stock, so a true cost comparison may take a little time
With the B&W Neopan 400 that I purchase, it's costs are about 10% cheaper than Badger with their Tri-x converted to the AUD.
As Neopan 400 isn't available in this country as a bulk load item, this is the cheapest way for me to use this film. Adding the freight costs as one should, meant that in total, I save 51% over the standard single roll price.
Kathy's post about J&C, has made me think about looking closely at their offerings.
This internet shopping thing, is truly wonderful!