There is a significant price difference when it comes to using foam insulation to insulate a new versus older home. Spraying insulation inside a newly constructed home is easier because the installation company can ensure the insulation will work effectively and design it for optimum defense against sound, heat transfer and utility costs. Installing spray foam in older homes that contain existing insulation can cost additional time and money -- it is not usually recommended as compared to weatherization or an energy aduit.
Allison--would be very interested in your take on the GHG issues of foams, which have received lots of smart commentary recently. To highlight a few: architect Jesse Thompson's comments on Tom's Good vs Bad post on Energy Circle, the very thorough piece by Alex Wilson on Green Building Advisor and Michael Anschel's cautionary diatribe on Remodeling. 
Thank you, Allison. We have a split system unit (actually 5) with the heat being propane. The foam guy said that it needed ventilation, so completely sealing the attic wouldn't be a good idea. It sounds like you are saying that the systems need to be vented out of the attic or replaced with some type of closed system. But I shouldn't bother spraying if the plan is to leave the soffet vents open. Is that correct?
That’s $58.3 Billion dollars. That’s roughly how much money we wasted in 2010 in the US according to the Department of Energy because of air leaking out of our building envelopes. If your building leaks energy, you’re paying more for energy than you need to. Clearly you’re not alone. If you’re ready to claim your share of the savings, it’s quicker and easier than you think.
We have a 1950's ranch in Atlanta and are interviewing foam contractors to spray open cell under the roof, with an "ankle wall" out towards the eaves to seal the attic. My wife and daughters are chemically sensitive, so I'm trying to figure out how to minimize the fumes coming into the house. Additionally, at least one contractor has offered (for > $900) to remove our existing rock wool & R-13 fibreglass from the attic floor to "increase cross-ventilation into the attic". Seems to me I can't both minimize fumes AND increase cross-ventilation. They also offered to spray a fire-retardant on for >$600. Would ventilation during installation help any or woud the retardant seal off the foam and help that way? Thanks...

Most closed-cell spray foam is now formed using hydrofluorocarbon (HFC) blowing agents that have high global warming potential, partially or completely offsetting the climate benefits of the energy savings they can offer. In the United States, HFCs are scheduled to be phased out by January, 2021. A few spray foam suppliers have started supplying spray foam blown with hydrofluoroolefin (HFO) blowing agents without this problem as of early 2017.[14]
I've seen this only once, and it was with closed cell foam, but I've heard of it happening with open cell foam, too. I don't know the details, but I've heard it could result from a bad batch of chemicals, improper mixing, or too high a temperature. Whatever the cause, it's not a good thing. The photo below shows how the spray foam pulled away from the studs. A little bit of uninsulated area like that adds up to a lot of heat loss/gain when the whole house has that problem, as it did here.
Spray foam insulation, when properly installed is both an air barrier and when closed cell foam is used at the proper depth a vapor barrier!  Before hiring any contractor you should establish the brand of foam being used and verify that with the named manufacture.  Please ask for ESR reports and MSDS sheets on any foam being installed in your home. A couple areas where you might consider spray foam insulation include:

Where Can I Buy Closed Cell Spray Foam