I have in my hands (okay, I put it down so I could type) the first Lulu-printed version of my chapbook, Pieces of the Moon. It looks pretty decent; my illustrations came out well, a little thinner paper than my self-published books, but with a nice slick cover. With my picture on the back...yeah! :)
I reckon this is the way for me to go. I keep all of my rights, have a distribution channel online (other than my own site), and total control of the appearance. More books to come! Of course, I will continue to submit stuff to publishers -- there is something to be said for being able to mail a completed book out rather than a manuscript.
Time to send out an order for a box of 'em. They'll sell like day-old hotcakes.