I would add the suggestion to be prepared for the editor to request a look at the manuscript (not just a short sample) to prepare an accurate estimate. This has been my practice for some time, and it allows me to provide a flat fee for the entire project. This makes budgeting much less complicated for the author, although of course I am willing to bill by the hour if preferred.
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Stephen, I’m not sure what you mean by “time wasted matching a style guide.” Any professional editor of trade books knows the Chicago Manual of Style well and as a matter of course automatically makes changes that are in line with it. What you said is akin to “They waste time correcting spelling errors.” They’re not wasting any time; they’re doing their job and it’s a basic and automatic part of that job.
It’s always sensible to follow due diligence in submitting your first draft of your book to an editor by making as fool-proof a copy as possible for you because first, it is your own creation, and secondly, a horrid draft sent your editor can end up frustrating both you and him or her. Make your own corrections to the extent you can, so that will make the job of your editor that much lighter and the end result would be a lot more effective.