I agree, I like the old way of doing prestige races better. However, there is certainly a point in the argument that higher level characters are better able to absorb the cost of taking a prestige race. Someone (psion maybe?) once said they didn't like the prestige races were done because they circumvent the experience system. Prestige levels strikes me as more "fair" in that it more accurately expresses the power level of the character. I think, at the very least, using the old method should apply a CR bump at certain stages of a PrR. Believe me, when we were playtesting Wildwood there was a whole lotta discussion on this very topic.