Let's put it this way, there will be couples with budget problems who can only afford a part-timers. I've been getting like 4 phone calls a day regarding their actual day photography, and most of the time, they'll ask things like "how much do you charge ah?". Normally, these phone calls don't last more than 2 minutes because person will try to cut the conversation short so that they can call up another photographer to see if he/she is cheaper.
It is very tempting to charge low at the beginning. Really. But if you believe your work can sell, and patient enough, the bookings will come. When I started to do this full time, for a good few months I couldn't get any booking in December 2006, and there were so many couples whom I met and many just felt that $1388 for full day was out of their budget. After talking to people like Pro Image and a few others, I stopped showing my works on a laptop and did up a few books instead, upped my price to $1.8k+. In a matter of 3 months, my June and July are fully booked. Nov and Dec are almost full, I'm even booked up to Nov next year. One of the december jobs, I managed to convince couple to part with $3.5k for a day shoot, that's a price that I would never dream of, when I showed the contract to one of the full-time pro I'm sure there are many more talent photographers who can price themselves higher than me, it's a really a matter of learning how to.
The norm in european countries like Holland is about $4800 for full day shoot based on 200Euros an hour, without albums and some of these photographers' portfolio pale in comparison to many of our photographers here. If every photographer decides to make $2k a norm and minimal market rate, the standards of wedding photography here will definitely go up because people are competiting to produce quality work, by giving more, rather than charging less, giving less and killing themselves on the long run.
Doing up the sample albums can be costly and really takes a lot of work at first because you're still looking for the direction to go, but it's really worth it.