jeremysterling,
You are correct regarding the rain shields where ventilated transformers in the higher KVA sizes with weather shields are much, much less expensive than encapsulated transformers of the same KVA. In the majority of installation it is the most economical and best choice
However, it is important to note that even a ventilated transformer with weather shields is susceptible of getting packed with snow is some areas which must be considered such as Alaska. As such ventilated transformers even with weather shields may not be the best choice there.
These the encapsulated transformer is more suitable.