I think we should leave the "he sounds just like a..." discussions out of this, simply because anyone can take that line just about anywhere they want. But ultimately, all it can accomplish is to piss someone off eventually, and we've had enough of that lately. We've had less flame wars per capita than most forums on the internet, and I think that if we do have a zinger again it should be about something important like displacement rules or Maico imports, and not political views.
With that said, I think if the bike blows up and it's really labor-intensive to fix, you should charge him for it. Not much, not as much as any bike shop would, but something along the lines of, "Jesus, this is going to take forever. I could do it for you for free if it was a small job, but this is just too much. A bike shop would do it for X, I'll do it for 10% of that, how's that sound?"