My original calculations did not even consider that Japan has to repair the damage it causes. That extra cost means that over two rounds of strat bombing Japan is at around zero net-gain even if no strat bombers were lost in the process.
Marsh
If you capture a territory with a minor factory do you keep that factory or is it removed?
Yes, with one exception. If the factory is on a chinese territory and the Allies capture it it is removed.
If a MAJOR factory is captured, you downgrade it to a minor (this is assuming Alpha 2, 3, or 2nd edition rules)
If you play the rules that came with first edition ignore me. I can’t remember those. :-)