It is indeed.
Right now, from the little research ive done, its: http://www.rendercore.com
Around $0.50 per hour, per ghz, per frame. So 3ghz dual core for 3 hours, 25 frame animation (like one second, lol) would cost you $230. Wow.... lol.
Turns out having 3 or 4 slower computers is alot better than having one good one. I worked out that if i buy 3 or 4, 2ghz Pentium Dual Core pc's for $250 each including the bare minimum 250w PSU (bills bills bills), FoxConn MicroATX case, MSI Mobo with Nvidia 6100 integrated, 1 gig of ram, and a Samsung 120gig HDD, id be better off than a workstation for rendering stuff.
So i will have a hexa/eight core render farm for less than a grand and i can add more computers any time i want.
Right now im just throwing stuff out and will most likely never see myself get the money together. I might if people start reffering my PC business in my sig though... 8)