"If I accept it, it will set a precedent for what our time and skills are worth" You said it. Knowing what you have told us so far, I would say No Deal. Once y

"If I accept it, it will set a precedent for what our time and skills are worth" You said it. Knowing what you have told us so far, I would say No Deal. Once you set a precedent, it is very hard to go back and tell the client "Hey I took that shitty pay because I love the project. I have been with you for a while now. Can you now give me what I am worth". Most likely, client will say No.