Flights are cheap.
If the perm is at anywhere near the level of the contract...this is a no brainer.
I know there are other circumstances that could affect that decision...but ferchrissakes be selfish...Benefits, salary, stability...these are things that would be nice for a change.
And I know the "bad guys" are gone...but do you want to put your fate back in the hands of "the drinkers" ;-)
Worst case scenario, you know you can live at near zero...so find cheap living down there...pound it out a couple years...get the skills polished, use tuition reimbursement to get some new skillz and jump back out....you'll have some savings to fall back on.