Welcome to the WVDR wedding videographer forums, Kwayne !
..and thanks for tossing us a great question - one that there isn't one perfect answer for.
First off, it depends on the style of wedding video. There are short form, documentary and journalistic styles and everything in between.
I don't like and generally do not agree with Wikipedia's wedding video style definitions, and I haven't seen a single source that agrees with them, however until an entity either gains sufficiant recognition to define styles or forms a committe to standardize styles, they will be left open to interpretation and redefinition.
Most of us can agree that short form wedding videos generally run from ten to thirty minutes*, and are usually heavily stylized (perhaps what wikipedia meant by cinematic).
Long form wedding videos can basically be broken down into two general types - documentary and journalistic.
Documentary style tends to cover most of the significant portion of the event, keeps a true timeline and offers no stylizing nor glamorizing; cinematic effects; etc.
The Journalistic style takes more liberties with the timeline, and adds more glamorization, stylizing for a romanticized effect.
Long form wedding videos tend to run from forty-five to ninety minutes, depending on the ceremony and the editor.
I like to target my wedding videos (journalistic style) to run fifty to seventy minutes. Where brides request more or all the video, I offer the raw tapes for $199. Sometimes they'll ask for ALL the dancing. I generally include all of the 1st dance, most of the parent dances and only highlights of other dances. For $199 I offer to dump all the unshown dances onto their own DVD.
Now, as for the number of cameras you're using - here are my thoughts:
You are going to be judged by the quality of your wedding videos, so why hurt yourself (and your clients) by using fewer cameras/mics than you can use? Find other ways to offer lower-priced plans, then always try to upgrade before (or even after) the wedding shoot.
Notice the plans at
www.OKVideoGuy.com ALL offer three cameras and as many mics as it takes, yet pricing begins at $749. My plans at
www.CastelloProductions.com are similar, though higher priced. While I suppose it is more work to edit three or four video tracks and six or eight audio tracks, my videos would suffer if I didn't use all my gear and if I am judged by my videos, I will then appear to be a lower quality videographer.
Your videos will dictate the way you will be perceived. If you want to be seen as a quality videographer, you must produce quality videos. Make sense?
You also have to be careful how you market yourself. If you stress low prices, then you may be percieved as a lower quality videographer. Look at your competition. What do/can you offer that they do not. In what niche can you be "King of the Hill"?
*WEVA says short form wedding videos cannot exceed 50 minutes, but if most of us shoot for 60 minutes for long forms, 50 minutes hardly makes sense for short form wedding videos!