Designing Kitchens and Bathrooms - Bathtub removal/installation, any ideas?

Hi. We just bought a house with an old 60" x standard width(about 30") cast iron bathtub. It is too old and peeling to refinish and liners don't appear to work well. I want to take it out and put a new one in. I know about hitting it with a sledge and being safe about that part. However I would like to:
1. keep the cost down
2. possibly give us more room, more than the standard 30" so that taking a shower is easier and more enjoyable.
What is the easiest and most cost effective way to achieve this. One of my ideas is to buy an American Standard Elite 5' x 36" whirlpool tub. It is only about $550 and is deeper than a typical bath tub. I will need a plumber to move the drain and probably the hot/cold and shower diverter and head if I choose. However, I think that I could save money(labor) because I could cover up the area marred by the removal of the old shalower bathtub with the deeper(higher) whirlpool tub. The surround is ceramic tile. I guess that I would remove 1 row of the 4" tiles above the tub edge.
Is this wishful thinking? And if so, any other ideas? I am very handy except for plumbing, unfortunately. Any help would be greatly appreciated.

Everyone wants to save money but if I were you i would rent a reciprocating saw. Cutting it up into peices will save a ton of time & aggrevation.Don't forget eye / ear protection if going this route