The New York Times has an article looking at the growth of the self-publishing industry, and the diminishment of the stigma associated with the "vanity press" as self-publishing prices fall to a level where authors can have copies printed inexpensively enough to sell them at a reasonable price. This has been driven in part by publishing industry changes, such as the death of the mid-list.
As traditional publishers look to prune their booklists and rely increasingly on blockbuster best sellers, self-publishing companies are ramping up their title counts and making money on books that sell as few as five copies, in part because the author, rather than the publisher, pays for things like cover design and printing costs.
The article looks at the pros and cons of self-publishing, and the success stories of some authors whose self-published books were later picked up by traditional publishers. It also points out that such success stories are the exception, rather than the rule—the majority of self-published books are still "self-published" for good reason.
as a writer, one takes great pleasure in writing, wether its poetry, fiction, or just an article of some sort. we enjoy doing it. the chances of some publishing company wanting to publish your book are slim. self publishing fulfills that void in a writer of wanting to share their work and get recognition for their work even if its only from your family or close friends.