Jay Lake: What my publisher does for me, and why I won't just quit
For those wondering about my take on the subject, it's like this: There's room for both modes -- and all manner of approaches in between -- depending on what you're trying to accomplish. I've been thinking of taking a stab at self-publishing something small, primarily for the kick and in order to have something "special" to share with fans and readers I meet at cons. Otherwise? Right now, and pretty much for the foreseeable future, I'm quite content to have someone else taking care of all those other steps between me writing a book and it ending up on a bookstore shelf. Believe me when I tell you that you're getting a better final product for your money.
Anyway, go. Read Mr. Lake's words. They're good.