I don't know this market, but is US$200 for a logo a bad deal? (I didn't see the agency's share, though)
I don't think that is a bad price for a logo. Some people charge more and some people charge less. My big problem with spec work sites is that 50+ people do the job, but only 1 person gets paid. I think it sets a bad precedent for clients that want free work and that a designer's time isn't valuable. Personally, I try not to even think about a project before I know I've been hired to do it. Ideas, sketches, and any other preliminary designs are all things that an artist should get paid for.
Sorry didn't mean to sound too irate, but it is something I feel strongly about. That and free stock files from agencies.
