There are pros and cons to self-publishing...However, in todays evolving publishing atmosphere, self-publishing is becoming more acceptable and now has more pros than cons!

Here is an insight given by
Ruth Belena in an article she wrote for Helium:

Self-publishing is now more than ever an option for a new writer to get into print or to create an e-book. It is worth considering the effects of self-publishing on a writer's career and the many benefits to be gained from self-publishing, when it is done right, but there are also dangers in self-publishing.

♦ Reasons for a writer to self-publish

Traditional publishers no longer accept unsolicited manuscript submissions from unknown writers. The only way to for a new writer to get noticed is to find an agent willing to submit a manuscript to appropriate print publishers. Self-publishing removes the need for an agent and eliminates the long wait for a book to be accepted.

Rather than buying a printed novel or paying for a non-fiction book, a growing number of readers are searching the Internet for books to purchase for immediate download, to be read on a computer or a small electronic device. Self-publishing services can simultaneously make a print-on-demand version and an electronic versions available for download.  

Writing self help manuals and instructional e-books can be a lucrative occupation for a self-published writer who meets the demands of a particular market, without involving any traditional publishing company.

♦ The positive side of self-publishing

It is possible to become a successful self-published writer using some of the excellent opportunities for promoting and selling self-published books, or e-books, online. This can be achieved through Amazon or eBay, and many writers make effective use of blogging, article marketing and social networking.

By building a brand as an author online, and using all resources available, a writer can become well known, with a list of self-published titles people want to read. A self-published poetry book, for example, can have great value for establishing a reputation as a poet.     

♦ The dangers of self-publishing