You got to figure, rate is probably $40/hr minimum (maybe as high as $60/hr depending on where you live). That means an hour and a half. I don't think it takes me quite that long, and I'm not being paid to do it, but I don't think it's that far out of line.
You're right though, shop prices are making a lot of people start working on their own bikes.
Short story...I have a 16' tin boat with a 25hp outboard. I work on everything I own...bikes, ATV, lawnwomers, truck, cars...everything, no matter what it needs. I know NOTHING about outboards specifically, so when something comes up, I take it to the shop. Every time I pick it up I talk to the shop owner a little and find out a little more about how they operate (timing especially). He gets $60/hr and to me, I'm paying for his knowledge. To me, it's worth it. As I learn a little more about it, I may start doing more of my own work, but for now I'll let him do it. But I won't pay someone to do something that I am capable of doing.