Mine is nearly 16 and diagnosed with hyperthyroid a few months ago. It's really difficult to give her tablets and would be near impossible to do it twice a day when I inevitably have to go away for a few days and a friend comes in to look after her. So we decided to go the food route.
If doing it with the food they absolutely cannot have any food ever other than the special food. I've never really given my cat food treats anyway so wasn't a big deal for us, just a bit sad that she can't have a bit of my fish if I'm eating some now. Plain chicken is very very low in iodiene though so she does get a little of that sometimes off my plate.
At first she would eat the dry food but hated the tinned stuff and hardly ate any, but after about a month I took her back to the vets to monitor thyroid levels and discovered that she had managed to put on weight anyway, so stuck with the special food only. Soon after that she decided she did like the tinned food after all and now eats it ok. Thyroid levels were still high but had improved.
Her appetite is less than it was before, but this is apparently due to improvement in her thyroid function and she is now able to get better nutrition from the food she does eat, hence her putting on weight while eating less than she used to. She's also a bit less manic due to thyroid improvement, which means she's burning off fewer calories. Went back to vet for monitoring another month later and she's back at her ideal weight, glossy fur, swearing heartily at the taxi driver and seems absolutely fine.
So now I'm back to worrying about her arthritis instead...
The dry food really isn't that expensive if you buy big sacks cos they last for ages, I get mine from my vets who have an online shop with 10% discount, so it's £40 for 5 kilos. We have not got anywhere near the bottom of a 5 kilo bag yet, I think it might be about 6 month's supply! The tins (1 portion per tin) are £35 for 24 tins. She has been on dry food plus one tin per day but I might stop bothering with the tins since they're more expensive and she likes the dry stuff better anyway.