Clear up a couple of things, since I get my hair cut there once a month.
Charge - $17 for Adults, $13 for Children
Michal (correct spelling) - The best barber in the world, but all of them are good.
No Charge for Color, but you can request to not have it.
There is a morning rush, so I always say go there either right before the parade, but no later than 4 (or you risk not getting in, they usually seat the last guest at 4:30)
And one other thing, when you go on vacation, to each his own. If you want to sprint to every ride and then by all means, enjoy the attractions, I agree with you, they are great. But on vacation, I always recommend to people to stop, slow down, take a break and watch the people. Getting a haircut at an old barbershop is a unique experience that you can take great pictures of, and show the folks back at home that WDW is full of interesting, offbeat things.