Mr. Willard,
Excellent points, all! You might be interested in a recent article from Forbes - "Kill the Billable Hour" by Evan Chesler, Esq. You can find it on-line at http://www.forbes.com/forbes/2009/0112/026.html
I've never liked billing by the hour, too much concern over "spent time" vs. "productive time". I'd rather just say "here's what it's going to cost" and do the work. Fortunately, I can do that with most of my work (financial forensic research & analysis - the fancy way of saying "finding people's assets").
Thanks for an interesting and informative set of videos! I'll keep checking your website.
Regards,
Andrew