I'll add my two cents:
Some of my friends have a good eye but aren't exactly super-geeks in terms of technical photography. However they create interesting compositions that then are taken to the next level in PS. In some ways, they are as much illustrators as photographers.
Others find ways with cool lighting, interesting lens techniques, etc to create "magic." My friend Zach, for instance (Gray Photography | GrayPhotograph.com
) is so amazing at getting it right in the camera that he hardly uses PS at all.
I came from a perspective originally that kind of looked down on the former approach, but I've come to respect it as a valid approach even if it isn't my path.
Regarding the high-prices that you mentioned: editing is only part of the issue. There are countless other "behind-the-scenes" things that a wedding shooter may chose to make part of his/her business model that can affect price. For instance: I really try to go out of my way to spend REAL time getting to know my clients prior to their big day. Its not uncommon of me to travel for hours or even over a weekend just to do an e-session with an out-of-towner so that I'm not meeting them for the first time at the wedding. I spend a total of about 40-50 hours on every one of my clients factoring meetings, portrait sessions, editing, proofing sessions, album design, etc...
Anyway, just my rambling thoughts late on a Saturday night in a hotel room far from home....