Some of my Southern Ohio Morel Mushroom hunting buddies call them that too. I saw them sell on average last year at $40 per pound. I belong to a morel hunters message board as well and I saw where they were selling lower and higher depending on different circumstances.
In the spring of 2009 I was in the woods almost everyday from Mid March through the end of May. I found over 1,000 Morels and 3,000 \"Half Frees\" or Dog Peckers is what most call them.
Last year I put in the same amount of time and only found 300 Morels and 10 Dog Peckers. We only had 1/2 inch of rain in April up here and 4.75 inches is normal for April. 2010 was a lack luster season to say the least for morels. With all this snow on the ground it should be a good one this year as long as we get some rain in April like we normally do.
I also hunt Summer Mushrooms and Fall mushrooms. I found over 3,000 Chanterelles this summer and many chickens. Found a few Hens and many Oysters this fall.