I'd think a top class bluing (a la Smith - old style) would cost more. Park'ing is of course work and chemical intensive but IMO may run a bit cheaper. It is also (IMO again) the more durable finish, if not as aesthetically pleasing.
For standard level finishes I think it's a little cheaper to parkerize a gun.
For a crappy blueing job vs a crappy parkerizing job it's probably cheaper to blue.
However, a top of the line blue job will be much more labor intensive in the metal prep and will cost much much more than any parkerizing job.
I have seen some parkerizing jobs that looked much better than any blueing short of a Colt Python, but its kinda comparing apples and oranges as you can't have a glossy glass-like park job.
I would rather have a good parkerizing than a decent blueing on most working guns.
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