Nope, my Oyster travelcard (zones 1-2) is £116/m, the season ticket is £164/m. Just the drop in car/home insurance and council tax makes that up, let alone the £500+ drop in rent!
And the other thing worth noting for people considering this: If you have any way of avoiding zone 1 (if you work near the border to zone 2, and it's viable for you to take a bus, walk or cycle the last bit, for example), zone one makes up for an atrocious amount of the travelcard price in London - getting a travel card that excludes zone 1 can be a major saving.
