I'm doing research for my trip. I hope this helps others in getting a ballpark idea of the time and costs (in U.S.D.) involved in making such a journey (whether in whole or in part). These figures are approximate and of course are subject to change. All figures are from Lonely Planet Chile and Lonely Planet Peru.
Bus from Lima, Peru to southern border town of Tacna, Peru: 18 to 20 hours, $30.
Taxi from Tacna, Peru across the border to Arica, Chile: 1 hour, $6.
Bus from Arica, Chile to Iquique, Chile: 4 1/2 hours, $14.
Bus from Iquique, Chile to Calama, Chile: 6 1/2 hours, $28.
Bus from Calama, Chile to Santiago, Chile: 20 hours, $60.
Bus from Santiago, Chile to Puerto Montt, Chile: 12 hours, $32.
Bus from Puerto Montt, Chile to Punta Arenas, Chile: 30 hours, $70. (Notes: Bus will have to cross border into Argentina and bus only runs a few times a week.)
Bus from Punta Arenas, Chile to Ushuaia, Argentina: 10 hours, $48.
Total cost: $288
Total time on bus/taxi: 104 hours
UPDATE: Check out my bus trip here.
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