CON'T FROM COMMENTS EARLIER.  However,  the  installation took less than 3/4/ hour and was a basic regulator with no other function.  Looking up the price afterwards, invoice did not list type or price, it appears that it would have cost me around $60 for the regulator and another $15 or so for the additional supplies necessary to install it and it was really a rather simple job with easy access.    Given that, it seems that $300 for less that  an hours worth of on site work,  company says it does not include commute time in its prices, is a little high.  While flat rate quotes are nice, they must take into consideration situations where the work load differs depending on the circumstances.  Therefore, unless you are at the upper end of the harder work needed than the average job. it can be argued that my estimated price of $300 for labor was more than a little high.  Maybe I am wrong since I have not used their services for years and  am not knowledgeable of the costs of equipment and professional labor today.  
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Sometimes a faucet leak can be stopped by replacing the rubber washer at the end of a faucet stem or cartridge.  This is a more common repair on older fixtures when things were built to last and designed to be able to be maintained.  Other times the whole stem or cartridge needs replacement or the bibb seat deeper back into the fixture needs replacement.  That leads to matching up the right components and often times making a trip to the hardware store or plumbing supply house necessary due to the many varieties, makes and models of faucets.  My advice is to make sure your Plumber has faucet repair kit on their truck before having them come out to assess the issue.

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