Wow Dave, you're really straining my gray matter!
I was at my second EE job in the early 80's using surface mount and for the life of me I can't remember what chip resistors cost. Placement was a significant cost at that time since the pick and place machines were pretty slow. Probably the only parts taped were the R's and C's. The SOIC's were usually in sticks back then and the QFP's were in tray's. Tape feeders were mostly 8 mm and occasionally 12 mm.
Panelized boards were uncommon then because of the slow pick and place machines and large boards were more challenging. Many contractors couldn't build our 'large' 12 by 12 inches boards strictly because of size.
A side note on the printed resistors, my first job was with an automatic test equipment manufacturer that evolved out of their laser trim business. The laser trim systems trimmed the value of printed resistors on modules to as close as 0.1%. The system was a mounted on a 6" thick granite slab for vibration isolation and had a small trim area. The computer was a Data General Nova minicomputers (6U 19" rack mount, 8 to 16 kbytes of core memory, 8" floppy drive) and the control language was similar to Basic (the interpreter was written using FORTRAN). By the early 80's the laser trim business was dead so the measurement infrastructure became the basis for high accuracy analog testing (1 mv absolute accuracy in a few racks of equipment).
Ah the 'good old days'!