IMHO, rehearsal frequency should be auto-set by the abilities of the band vs the intended first gig date (and how many songs needed to cover a typical gig with a few spares).Obvious but sometimes overlooked: make sure the discussion includes rehearsal time. Some bands prefer to do homework with few or no collective rehearsals, others rehearse once or more per week.
I don't think rehearsal time intersects with homework... at least for cover songs, in which case, all homework should be done before the first time you bring it into rehearsal. I'm an absolute stickler about the fact that, by the time you show up to rehearse a song, you should have it NAILED against the original/reference recording everyone is using to learn from. The ONLY thing rehearsal should be for is any special arrangements (chaining, altering form to suit need - including beginnings and endings, audience participation adjustments, etc) and vocal/harmonies.
We might be saying the same thing... just can't tell from your post for sure.
It can be hard to explain, y'know?