So I recently hopped on aboard an established band and I was just wondering if anyone could give me a ballpark estimate or range of what is a reasonable price when recording.

Preferably per song and per hour. They discussed that we would be recording in the near future and that everyone would have to chip in. I just want to make sure no ones pulling a fast one on me.

I know there are a lot of variables that can affect the pricing, but I was just looking for some estimates/ranges (as well as general feedback). They made it sound like the guy would only charge per song, as some sort of deal.

They mentioned it would be $250 per song. And with how many songs we're doing and the number of us, it would be $250 per band member for the album.
Seems legit. Prices around here go from $300/song(professional production + full gear rental) to $ 20/hour (crap recording + non pro mixing)
When I went with my friend and his band to listen to them record it was $1,000/hr for the whole works. They tried to do the whole album in one go so they can get the whole thing done for a grand.
If you are aiming for a professional recording that would be able to be played on commercial radio, you'd be looking at starting around $800/song.
And no, Guitar Hero will not help. Even on expert. Really.