These numbers aren't that surprising in today's market. When my group uses locums, we typically have to pay $1000 - 1200/day ($125 - 150/hr) to the agency and that is about as cheap as you can get. After the agency takes their cut, the pathologists are getting as little as $800 - 1000/day cash (or less, in your friends case). I have heard of rare gigs that pay the pathologist > $1200/day, but again, very rare. The other alternative is a direct hire from a group; however, most know what the going market rates are so their quotes are about the same as a locums agency.
What does surprise me is that it the rates haven't really changed that much in a quarter of a century even though that was before my time. Given the rising cost of living and inflation, a pathologist would have to stretch their dollar farther...
It's unfortunate for our field because, the whole concept of locums (for other specialties) is higher pay because: a) you are working to cover another practice that may be in a pinch/shortage b) you are traveling away from home/living out of a hotel and c) sometimes going to undesirable locations. I have friends in rads who pull down double that amount per day in locums. But, such is our field...