I'm interested in why you guys aren't self-publishing.It's a totally valid question, and I answered briefly in the comments, but I thought it deserved a bit more explanation.
It needn't stop you querying agents, if you're set on that. Meanwhile, you could be making money from your writing, and if you do well enough, agents may approach you. Win/win approach.
Understand, of course, that this is just why I haven't self-published yet. I can't speak for anybody else.
(1) I still believe I can make it traditionally. I got zero requests for my first novel. The next novel got five requests -- it was rejected, but three of those agents said they wanted to see revisions and/or my next novel. This round (which is really a revision of the second novel), I've already gotten significantly more interest than last time.
That tells me I'm getting better and leads me to believe I will continue to do so. Until I hit a wall (like where the statistics are no longer going up), I'll still believe I can do it.
(2) Self-publishing is still, statistically, a lot of work for not a lot of gain. I have no doubt the numbers have increased since I ran through them a few months ago, but I haven't seen a lot to encourage me. I'm still not convinced that self-publishing should be more than my last resort.
(3) Pursuing traditional publishing stretches me. I talked about this a couple of years ago, when self-publishing still wasn't quite legit. I think one of the reasons for the growth curve of (1) above is that I've actively gotten feedback and tried to get better. I might still do that if I self-published, but I know myself. More likely I'd revise less and sacrifice quality for churning out novels.
(4) Poor sales on a self-published novel could affect my chances of getting traditionally published. At least according to Rachelle Gardner. I'm inclined to agree with her. For me, making a little money now isn't worth killing the dream. Speaking of which...
(5) Self-publishing isn't my dream. I once had a friend who tried to shoot the moon on every round of Hearts. He lost points most of the time, but he won overall (and won big). But he didn't change his strategy even when I started sacrificing points just to take him down. When I asked him why he kept doing it, he said, "The game's just not fun otherwise."
I kinda liked that.
Traditional publishing is changing, we all know that. But it hasn't actually changed yet. It's still here and larger than life, and so is my dream. So I'm going to keep shooting and see what I can hit.
Besides, what's the worst that could happen?
For you, have you self-published or are you still shooting for traditional? Tell us why in the comments.