Yeah, of course I charge per hour. But if you think about it, you can set everything up in 1-2hours with everything like that and a band that's pretty well rehearsed can play through their album in 1-2 hours. Now, figuring out how to make each song the best it can be could take a while but...for that price it's stupid not to do it in my opinion, especially if you're making an album which is gonna stick with the band/engineer/producer/mixer for a while.
Obviously some bands won't be able to do this because they either don't have the songs written yet or they haven't practiced enough. If either is the case I'd say make sure you know you're getting paid enough to deal with this. If the songs aren't written don't freak out, maybe you'll be able to help write them and make them better. If the band hasn't practiced enough then you gotta figure out how to get the takes.