Steve, I looked briefly at Fresh Ink and almost fainted at the price. That said, with editing, I did spend about the same amount of money. But I love choosing my cover designer, and editor. I did the formatting myself. For the ebook, I used the free book from Smashwords to guide me through the process, it wasn't that hard. And for the print version, I used bookdesigntemplates.com.
My point is if you want to you can do all that stuff yourself. But if you don't want to do that, then my advice is check out the books they have produced. Look at several do you like the covers? Find them on amazon, how are the reviews? Do they get any complaints about editing? In my mind even one is too many.
If you like the covers, and the books are NOT getting any bad reviews for editing issues, then you would likely be okay to go with them.