C'mon.
It most certainly does not.
Now, if the shop was going to do a full-up check of the regulator on the bench, adjust everything, go through the entire kit from top to bottom then maybe $60 or so would be reasonable - an hour's time.
Why? Because that's all they charge to rebuild the darn things, and they aren't going to have to tear anything apart here!
$77 - $144 for each set? That's pure and simple theft. It was a punitive quote given for the expressed purpose of attempting to keep someone from buying online, and playing on their lack of knowledge to make it sound like there's something difficult about the customer doing it themself.
I have no issue whatsoever with people charging whatever they want for whatever they want to sell.
I have a very, very serious issue with any firm - ever, and under any circumstance - misleading a potential or actual customer as to the difficulty or risks inherent in doing something yourself for the express purpose of trying to dissuade you from buying somewhere else.
The latter borders on fraud and if I had an inkling that it was going to happen to me you can bet your last nickel I'd have a tape recorder in my pocket so I could put the recording on the Internet, send a copy to the state AG, and make sure every diver within 100 miles got a chance to hear it.
There is this attitude within many of the scuba shops out there (not all, but many!) that they're doing you a favor by being there. That's flatly false, its grossly misleading, and when coupled with this kind of scare-tactic nonsense it gets awfully close to the line of consumer fraud.
Mike, an IP check can be done in 10 seconds if the reg set has a BC inflator hose attached. Cracking pressure (to verify that the lever height is set correctly) can be checked with nothing more complicated than a sink full of water.
Neither takes more than a couple of minutes.
Now if there's something WRONG, that's an entirely different matter, and frankly, if I found something wrong I'd probably ship it back to LP and let them deal with it.
But if its ok out of the box you verify that fact, check it in a pool to make sure, and go diving.