A friend of mine, Sidney Genette, put this link up about value vs. hourly. I have been basically freelance for 15 years, including a long run in the middle that was freelance, but in-house, hourly.
The client basically paid me hourly, but the reality was it was value based. This was great for both of us, except I had to show up to get the check, check out the article. Hourly is a hard paradigm to break out of this much is certain!