Falcon 1 wasn't that impressive as a launch vehicle, but it did reach orbit on the fourth try (after coming quite close on the second), and it did help with development of the Falcon 9.
And SpaceX did the right thing in learning as much as they could from the 1 and concentrating production development on the 9 with that knowledge in hand.
For one thing, it's rather good that they learned about the unexpectedly long high-altitude shutdown transient of the Merlin 1C on Falcon 1 Flight 3...
Indeed, and I still show that to people who get a steady diet of perfect staging videos, as well as Flt 2. The conversation typically goes like:
Friend: Why is the Saturn V dropping just that small ring?
Jay: Because the Saturn V used dual-plane separation, first getting rid of the bulky first stage, then the interconnecting ring.
Friend: Why do they need to do that?
Jay: In case this happens. [cue Falcon 1 nozzle-smash video]
The interstage is light enough that incidental contact with the J-2 nozzles would be survivable, as opposed to the energy from the whole spent S-1C. Does anyone know if the Falcon 1 used a chi-freeze strategy at staging? It's been a while since I read their report, but I do recall the stack was torquing around quite a bit to compensate for the wrongly parameterized flight loads. Under the chi-freeze regime you can't stage until pitch and yaw rates are nulled.
And yes, SpaceX had the benefit of design work and a bunch of experienced engineers from outside, but presumably so would this ridiculously-rich "oil prince", so the comparison still seems reasonable.
Very apt, I just got sidetracked on backpedaling my previous criticism of SpaceX. (Actually it was never so much SpaceX as some of its more irrational fans -- sort of a "Take
that, Big Aerospace!" mentality.) The rich oil prince would most likely contact an existing, established company or national space program. That's just prudent -- no matter how much money you have to spend, you start with the people who are already closest to your goal.
On a related note, Boeing has drawings, renderings, and photographs of some of their airframes that have been fitted out and modified by "rich oil sheiks" and they make Air Force One look like a Jiffy Lube.