When it comes to stock, I view it as a useless bonus, many times I was promised stock and it was never issued, and most of the time it would be worthless anyway.
My current job is not a startup, but I got a much more reasonable figure in line with what I need to happily live my life.
Does the developer have applicable experience? Is he willing to take increased equity in exchange for a decreased salary? How many other people on the job market have the same skill set?
Where is the startup located? What is the cost of living there? What is the median salary for the area?
what I've seen is that anything goes for a startup. it depends a lot on how well funded they are and how in tune with the establishment the founder(s) are. but if you ask me, you should really not be assessing a startup based on salary. doing a startup is a passion. why would you do one otherwise? if salary is important to you, then just stick with the small company doling out $100k for a QA position sort of gig.