I am a licensed electrical contractor in NJ.
And over the years if there is one thing i have learned is that if a customer is more worried about the money than they are the quality of work, it's best for both of you not to work together.
They are never going to think they got their money's worth and you will always feel like you are ripping them off (even if you are not).
You also cannot waiver on pricing, when you first talk money you can't say things like "let me see" or "i'll check". All solid finite answers. It has to be like buying a gallon of milk at the convenience store. it's $5 (or whatever it costs), that's the price, it's cool if they want it, it's just as fine if they don't. You have to be very sure of yourself or people will eat you alive.
For the record, i think $200 is very reasonable if you know what you are doing.
But at this point, it's already too late for this guy, if he really said you are "crazy", you should absolutely not do this work.
And if you do, come back and let us know how wrong it went.
I don't have to pay people often to do things. But when i do, my #1 concern is if I think they will do a good job (my roof comes to mind), rather than the bottom line.