I'm not a web designer but I smiled at the first post because it is so true in any service business. Another red flag: the client who wants it done cheap, and fast, but won't say exactly what they want or answer relevant questions. Sorry, I'm not a mind reader. That's why the first consultation is free, to make up for that shortcoming on my part.
But what's this?
If you can produce something that's limited in scope, but will still move your client from here to there, then you may have found a middle way to please them while not reducing your rates.
but then you're playing into their hands
Oh no, we can't find a way to please the client while still maintaining our rates, that's much too win-win! ;)