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I don't think 200 is ridiculous, little low, but this clearly aint a corporate design job. You could get the layout sorted in one day, It is easily possible to sort out print of one book in a few hours and I can hand bind a book in about 4 hours... £100 a day for a non corporate design job of this nature is ok.

Out if interest what is the approximate page count? do you want it hard or paper back? and when are you looking to get this done?

I think £50 - £200 is taking the piss a bit, That's not even a day-rate for a complete beginner/student. I passed it on to someone perfect for the job though.