Problem with counting preserves into that 71% is preserves have to put out a pen raised pheasant for every pheasant killed at that their preserve, at least that's how i understand it. I just got back from a 6 day SD trip and battled the cold and snow all week on public land. Plenty of limits to be had without paying guides.
You are exactly right about having to replace the birds. A 5 bird limit makes the overall cost of the trip a little more palatable.
I'm more interested in prairie chickens and sharptail than pheasant which leaves me with a 6 bird limit per day. If someone has decent dogs and puts in effort, they can save themselves a lot of money by not doing preserves and pay to play. Plenty of public land that holds birds. And if it's a preserve and they tell you it's 100% wild birds they're lying. Because as many as they have to release, I don't think the birds you find on public land are going to be 100% wild much less where they were actually released from. But hey, the more people go the preserves, the more birds on public for me!