> Sounds like this guy just doesn't want to waste time.

:)

> You have to be reasonable if you expect good relations with someone. The developer should provide a higher estimate that provides a buffer for the uncertainty involved. Get a written spec before signing the contract.

Exactly. (Although if the client agrees to a certain project scope, I don't mind writing the spec for them to sign off on). The other side of it is, good clients should get more wiggle room, but you've got to have a strategy for avoiding horror stories.

The point is that even with simplest risk model, the padded estimate, the price for the risk, is lot larger than the work itself.

I am still quite can't imagine a rational customer agreeing to pay such premium. Perhaps this is my chance to make a fortune :)