great discussion guys, thanks.
ok, some closure.
i went over there with a number in mind based around the idea of what i think this bike is worth in perfect shape (about $800).
i bought it for $150, bought tires ($75), bars ($30), grips($30 - sparkly vintage ones), paint ($25), vintage 125 badges ($40). so... i'm thinking $400 for this work if in fact the bike is running perfect.
rode the bike, fast, smooth, really nice, the work was good. i said, "ya know, i kinda wished you'd called me at some point in the process." he was annoyed, "why? to tell you we were 15 hrs into a job we shouldn't have got into?" i said nothing and he knew he had just outed himself. "i have a pocket full of money with me, and i really don't want to hand it all over to you, so let's figure out a number" i said. so he went to work up a bill while i rode a mile and came back.
he billed me 4hrs plus parts. total = $408.
reasonable guy, as i was leaving he commented, "well, that's a nice ride now man, looks great. this is last chance cycles, i'm glad we got'r running."
me too.