Logo Design first-timer

hey all… usually I am perusing the Flash MX forums but recently a band asked me to do a logo. I’ve come up with something, but I’m not sure what to charge them or anything like that. I would imagine the logo’s going on all their t-shirts, cds, stickers, etc… well anyway, this is what I’ve come up with:

so what do you think? first of all what kind of quality is the logo, and how much would you want to pay for it?