For me it was an easy decision to do my own framing. But first, I'm just a hobby photographer since 45 years. I love printing my images since my high school days. I live in Canada's Yukon Territory where we have got just one small city with one framer that has to 'import' all his supplies for premium $$, needless to say he has to charge accordingly for his services/products. For years I just tagged my 'fine art' prints to my bathroom walls... a good place to examine the details from the throne ;-)
Friends, that I give a 17x22 print to, are quoted around $ 400 for a metal framed mat with quite ordinary glass. No talk of acid free material etc. either.
The winter nights are long and cold here... a good time to fire up the table saw, planers and router table etc. Recently I bought a Logan mat cutter and a bunch of supplies in the US since I can not even purchase 32 x 40 8 ply mat in Canada being just a hobbyist. Hey, I spend over 30 k on photo gear... what's another 5 to make beautiful frames? Sure, I've got a shop for the woodworking and a room for the matting and final assembly once my matting supplies make the last 1000 miles up the Alaska Hwy.
I just cut out my first moulding using 2x4s or 1x4s regular spruce from the local lumber yard, painted it and stuck a print with no mat or glass in it just to see how it looks... For me the answer is clear! I can cut about 10 frames of lets say 24 x 30 in three hours, sanding, painting and assembly for the frame moulding is about 30 minutes +/- per frame. No, I'm not planing on a commercial venture ;-) but I get a lot of satisfaction out of this. YMMV
William