50 million. HAHA. 5 years of Vista development are estimated at 5-10 billion. It's more complicated, but not so extremely.
However, there is little doubt that there were
at least two discrete (for the most part) OS X development teams if not more.
We know that because 1) Steve Jobs @ WWDC '05 said that OS X had been leading a double life - PPC and Intel versions, therefore separate teams. Now it's also been said that there are two teams developing the "working version" of OS X (which has been the PPC version up until recently). So the majority of the team that worked on 10.2 worked on 10.4, and the majority of the team working on 10.5 are the ones who gave us 10.3. It's how Apple is able to keep the break-neck speeds of releasing OS X every 18 months. So in reality
10.5 is a continuation of the 10.4 code + bug fixes + new stuff. I'd estimate that approximately 60% (just made that number up, but looking at the "new" features, it seems reasonable) of the code is completely recycled, meaning that 40% of the code is re-written from one 10.X release to another.
10.4 was released 4/29/05, if 10.5 is released 10/29/07, that's 30 months (a year late

)
(I forgot where I was going with it...)
Anyway, Leopard is no where near what MS has spent on developing Vista.