More thorough answer than mine. Go with this guy.

That being said: you bring up some good points.

This is definitely from my experience that hourly ended up being a headache. The clients I've had in this space tend to want a race to the bottom in price when you get hourly. I've always had it where the client wants a lot more validation and other problems when the project isn't fixed price.

Everyone has their own experience. Let me just defer to patio11 for how you should price contracts: https://training.kalzumeus.com/newsletters/archive/consultin...

It worked for him as well from what I'm seeing. Go with what works for you.