Yesterday, I had the pleasure of speaking at the Washington Design Center in DC to a large group of design professionals http://mura.martreg.com/dcdesigncenter/index.cfm/businessofdesign/november2/
The common theme of the questions from the audience revolves around positioning of design services to recession-weary consumers. My response to that is professional services need to be articulated more clearly, scopes of services need to be defined even more succinctly, and designers need to be willing to do smaller portions of a project until a client is comfortable proceeding with more. However, the pricing of services should still be priced at a premium as with any professional service, just commensurate with the amount of service being provided. In other words, professionals are not charging less for their time/creativity; they are just charging it in smaller chunks and spreading it out over a longer period, in many instances.