That's double counting. If exercise time gets you the same increased lifespan as time invested doing it, then the "time" factor cancels. So there is no opportunity cost -- you get more life for "spending" life.
> Second, are you aware of the vomitories in the Roman Empire
Not a real thing, other than the architectural term. Nothing to do with regurgitation. http://en.wikipedia.org/wiki/Vomitorium
While your personal mileage may vary, I find my quality of life immensely increased with regular exercise.
Science supports it -- exercise helps mood, life quality of insomniacs, increase happiness, reduce anxiety, and many other positive qualities. (http://science.howstuffworks.com/life/exercise-happiness.htm has links to all these studies.)
I encourage you to do as you wish with your life. I, however, will continue to put my time in. Preferably in high intensity cardio exercise 2-3x/wk, and 1-2 strength training sessions per week.
FWIW, the "life extension foundation" seems to support exercise. http://www.lef.org/magazine/mag96/feb96-fitness.htm