Just as we were starting to get to the point of having all the circuits working we ran out of time and were unable to do the entire trade off study to compare the methods in a systematic way. What we did see was a promising for our results. Irregardless, either method has a vast cost saving over the encoders being used.
The encoders themselves cost around $9, but they only function with the extended shaft motors which cost around $18. The hybrid-implementation of sensor-less encoding would be cheaper as the price per unit on a single board is $8.05, and they can be implemented without the costly extended shaft motors. Taking them together would still result in savings of $91.11.