Definitely. Hidden tunnels with high speed trains to bring ammunition and personnel at any point in no time; hidden turrets in the forest that emerge from the ground; dragon teeth and minefields prevent tanks from going through.
Unfortunately big brass love big weapons, big bombers, big ships, big guns; never mind if they're useless nowadays in a world of guerilla and IEDs. The future is not the F22, it's a slow and cheap remote controlled drone with a propeller.
It's a slow but highly efficient autonomous drone with GPS and a terrain map.
http://en.wikipedia.org/wiki/Mark_48_torpedo
I think the main advantage for rail guns are that they allow a much higher volume of fire and faster time to engage more targets. It just happens to use cheaper ammo - I'm sure the gun will be much more expensive to make than a standard machined barrel.
But a part of the point is that they could in theory.
they certainly would still spend whatever money it takes though: Mark 48 torpedos are a cool $1M to $3.5M.
This would be dandy for blowing up a submarine or major warship which costs a lot more. This might also be viable for "demonstrating" your capabilities one or several times. Sinking a major merchant marine fleet this way wouldn't be cost effective.
It just happens to use cheaper ammo - I'm sure the gun will be much more expensive to make than a standard machined barrel.
With a 200 mile stand-off range, a much more expensive gun would still make sense. The extreme range would make such a weapon more survivable. There would also be applications for land to shore fire support.
And what's the "rail gun" for nation building - how would serious money spent on R&D help us create a stable, democratic Afghanistan?
I fear we're stuck in the "meta" version of "if all you have is a hammer": in terms of budget, all we have, in international relations, is the Defense Department. It has its uses, but its effectiveness is increasingly limited, not by dollars, but by our vision.
Oh, wait. We're preparing for the last war or even the one before that, all over again.
How does this help in the world of asymmetric warfare, failed states, nukes in container ships, and Stuxnet? (I'll bet the Maginot Line was pretty cool technology in its day as well.)