I think it all depends on what you include into the design process. I have found that the brainstorming of unique and fresh new ideas in addition to the back and forth correspondence with clients are the most time consuming parts of the creative process. After a game plan has been devised and I know what it is I'm designing, the mouse pushing and keyboard tapping part is actually the fastest part of the entire process for most designs we create. And since we do much more than just basic sign layouts, many projects we work on take more than an hour to design.
So I'm wondering if Biker Scout is talking about the entire process or just the part where you are using the software. Because it's bad enough that so many people out their underestimate what some of us do for a living, it's always a shame when I hear people in our own industry do it.
"To WOW a client is really simple..." That might be true for some clients, but then I've never thought the goal of my job was to "Wow" my customers, but to "Wow" theirs (in the most effective way), and that is not always that simple.
Lastly, I've been taught by many of the really great designers I look up to, who also happen to be great business men and women, that one shouldn't price out design work by the hour, it punishes you for being good at your job when you achieve a final product faster than others, and faster than you once did as you improve over time. I realize that is easier said than done, especially in the sign industry. We still look at some design work based on an hourly rate, normally the every-day, basic sign layouts, but larger design projects that require a bit more, like logos for example, are valued differently because they are more valuable to that client as the face of their business.
I think one of the best things we have done at our shop in the last 10 or so years was develop a pricing guide for design that illustrates what a client gets within a given budget. They can see different price ranges: a min, mid and high for the many different services we offer, however the important part is they see designs that fit within those min, mid and high categories. This gets them in the mindset that they are shopping for results, not by the hour.