It would be good to regenerate at least teeth.
http://www.cda.org/news-events/learn-about-stem-cell-tooth-r...
I've spoken to Dr. Vining and it's probably about 50-60 years out in practice.
So why not? Say a finger, which isn't too "expensive in terms of biochemical resources", why not regrow that? Take the acorn worm mentioned, in proportion to the worm regrowing itself must be really expensive.
I don't think this too expensive argument explains it.
http://www.elasmo-research.org/education/white_shark/teeth.h...
It's apparently one reason why they can replace them constantly.