If the studio is using a disk based recording platform, ie Protools, then find out what plug-in effects are offered in their system. A good studio control room will have a neutral playback system that reproduces an honest representation of the mix. The next consideration that affects both the project cost and ultimately the overall quality of the recording, is the person who will engineer the project. This decision is much more then just a monetary one, as the engineer will have a great impact on what the project will ultimately sound like. This is probably the single most important decision you'll make in planning your session.
Costs vary greatly depending on the caliber of the recording studio .
If your planning on recording the project at a home project studio, then naturally, the cost will be considerably less than if you rent a commercial facility. However, the services offered and often the caliber of equipment used will also be reflected in the costs. So. make sure that you consider carefully what it is your getting for your money. Keep in mind that there's more to recording a quality CD than merely having multi track capabilities. Also, don't forget to ask about the hard costs, such as multitrack tapes, Dat tapes, CD media, etc. .