Studios around here charge for each studio musician used on a song, so if you figure a 4 piece band at $25 per member, that's $100 per song there, just for the musicians. So, no, I don't think you're charging too much at all. You may want to consider an hourly charge for the initial compositional time, as some people aren't very good at getting their idea across and this is the time that will really vary. You know how good you are yourself as far as finishing up the project, but you never know how long someone will take to have you create their music. If it's all one price, they have nothing to lose by wasting time changing their mind over and over during this process. Case in point, just yesterday I was doing just that for a local woman. She could sing OK, and had a couple of tunes she wanted just a rough copy of me on guitar and her singing. One song was pretty basic, but it took about an hour and a half, mainly because she didn't have a good concept of meter. The other song was really bluesy, but had lots of changes the way she sang it, not following a set pattern. We spent a good three hours on it, mainly teaching her the meter on it and getting all the verses and choruses to follow a set pattern. It was 3/4 time so I used a drum machine and had to coach her through it several times. She was a friend and we had fun doing it, and I'm not as professional as I wish, so I was only going to charge her for a couple of hours at $25 an hour, but she wrote the check out for $75 anyway and will be back to work on them some more. I recorded her a CD of both songs with two versions of each, one with vocals and one without so she can practice them some more before her next session.
Anyway, just something else to think about before you set your prices in stone. Good luck, brother.
Anyway, just something else to think about before you set your prices in stone. Good luck, brother.