I'm talking about true IRR of an investment (as in the project as a whole), soapbox is talking about the return tied to his personal equity. IMO, the former provides useful information from which to make decisions and the latter just provides good feelings.

My real point is just that the whole "infinite return" thing is a bit of a pet peeve for me. It's just a way to use an inherent weakness of the calculation to make things seem better than they are.