I look at the whole situation and the thing is that for the most part, the road you have to take to get signed is very very very similar to the road you have to take to become independent, to some degree, as that road continues there will be major differences but as you start your band or what have you your really going to be doing the same shit either way and the only difference is that rather then the label having a cut of your profit, you can reinvest back into yourself, however those labels to have some tools that we just don't have access to plain and simple.
If you could negotiate some sort of contract for like 1 year or 1 album or something and then go independent i think that would be the most prime situation you could get yourself into. People often forget, labels aren't signing you because they love your music, they are a business just like any other business, they need cash money to stay alive..
The days of getting a lump sum of money for your signature are over, any money that does trade hands will be traded with the expectation of it being used for the album and you more than likely won't even have access to it other wise, if your signed.