Uber expensive repair at United Radio

That's why car repair places I deal with just tell you how much to do a job. Forget about the hours. It's irrelevant. If they don't know how much it will cost, either get a narrow range or go somewhere else.

Don't complain about the hours and the rate. Would you feel better if he said 7 hours and $240 and hour? The price is the price.

Didn't know they were the authorized repair center. If they had schematics, they probably even have a basic service manual. That 16 hours just went out tha window. Should have been 1/2 that. Takes minutes with the proper tools to change 16 pin ICs.
That typical everyday American owned an electronics repair business and ran a couple others. He seems to know a lot more about the business than people bustin on him.

Another reason to like point to point wiring.
Seems excessive price to pay for replacement for two 16 pin chipsets, can't estimate their troubleshooting time.

If ya are okay with your tech stuck in the 60's, then point to point is fine. Some of use like a bit more modern stuff.

I am more with the OP here than the folks who are saying he is out of line. There are so many instances of companies ripping off folks, simply because they can...that it is almost the norm these days...BUT that in no way excuses the behavior, IMHO. 
While some may say that the OP had an option, because he knew the bid price up front, does that excuse the fact that the bid price was derived by United Radio from knowing that the competition was essentially non existent and as such the OP had very few ( many zero) other options IF he wanted his product repaired...
BUT it is also very clear to me that there are folks on this thread that have severely differing opinions as to what is acceptable business practice..and frankly, ethics. Again, IMHO.