If you’re a writer who happens also to be inclined toward mathematics, I suggest checking out J.A. Konrath’s recent blog post, “You should self-publish.” Konrath lays down the advantages of self-publishing according to the numbers, and admits being more interested in reaching readers and generating sales than getting a favorable nod from the traditional industry. Writing is an art while publishing is a business, after all. Author Scott Nicholson chimes in, along with some 250 other comments, referring to the traditional publishing industry as “the new vanity publishing” where authors gravitate to the “illusion of legitimacy.” Interesting.
If you’re not into math, the post communicates a number of other valid points regarding self-publishing. Here are just a few we’ve discussed on this blog in one form or another:
“Join a writers group, or make friends with a writer in your genre and trade manuscripts.”
“If you write crap, it probably won’t sell very well. But you can learn from it and get better.”
“You have no control once you sign over your rights to a publisher.”
“Go to Kindleboards.com and look at all the self-pubbed authors selling like crazy.”
“Years ago, publishers used to grow authors…These days, you can grow yourself.”
Self Publishing Advisor 
Konraths blog is well worth checking out, thanks for the link.