The guy's I know who have gotten the big contracts way back when (Kid Rock, Sponge) went with the standard 3/5 contract. Three albums in 5 years. It doesn't do anyone any good to produce more records then radio stations will play in a given timeframe. If you do that you are competing with yourself.
Indie/local is a different matter. If you are playing a local circut then you do want something to show the local music times on a regular basis.
Here's my local rag
http://metrotimes.com/music
it's one big circus. Come out with a cd, Play locally, get press. Announce release, advertise, get local coverage. Get name recognition get gigs. Start all over again but don't get too popular locally or you'll be a has been before your time. In the indie circut CD's are something you hope to break even on and sell at gigs while offering them for free to clubs so you can get booked. Yes you do have to pay your dues if you want to sing the blues.
In the burbs you do the same thing only with covers. In the city if you are playing regular you kiss the bar owners and you kiss the followers, You develop a circut and you stay on the circut doing covers because they aren't coming to hear your songs they are coming to hear their favorites.