Looptech: My experience on iron removal (we've got a lot in our well water) and rough cost estimates:
Iron up to 20-25 PPM (I hope those are the right units) should be removable with a water softener (using salt pellets) - perhaps $1K.
To remove more iron than that (our water runs 30-35) we also have an iron filter (recharge agent = potassium permanganate) - total cost for both units perhaps $2.5K.
My prices are recollections from several years ago, so round up.