After hearing so many people mention it, here is what I found.
I visited a heat treatment plant recently. (A student in Quebec, in french, please forgive some word deformation.) I saw how they do subzero treatments: They put the metal in the bottom of a boxe like fridge and pore (Nitrogen) in it until the desired temperature is obtained.
The following is taken from the machinery's handbook:'Subzero treatment consists of subjectingthe steel, after hardening and eather before or after tempering, to a subzero temperature(that usually ranges from -100 to -120 deg. F) and for a period of time varing with the size or volume of the tool, gage, or other part.'
When I visited, they told me it was primarely used to cool down a very hot metal (over 800C) fast enouph to keep it's austenique forme. (in other words to keep it melted while it is at subzero temperature). This is also called Martensite.This is done to do other tipes of heat treatments with the material at a later date.
'The objective here is to increase the the durability or life of the tools; however, up to the present time, the results of tests by metallurgists and tool engineers often differ considerably and in some instances are contradictory.' Machinery's Handbook p.514
'Subzero treatment may sometimes cause craking'p.514
'The subzero treatment has been applied to carburized machine parts. For example, the amount of retained austenite in carburized gears may be sufficient to reduce the life of the gears. In one component, the Rockwell hardness was increased from 55 C to 65 C without loss of impact resistance qualities; in fact, impact resistance may be increased in some examples.'p.516
My opinion is that there is a potential, but a increadibly powerful engine would have to be tested with it first.
As for prices, I would call somone that can get it done close by.
The temperature and time in wich the material should be decided by a metallurgist with experience and he would have to know what heat treatment has already been done on the peace with the tipe of material. This is not something i would rush into.
Has anyone tried this and if so how powerful is your car, what temp did you do it at, how fast was it cooled and reheated and for how long?
PS: Sorry for the rite up, didn't intend on making it this long.