Call me behind the times, but I just learned about Amazon's Digital Text Platform. Basically it is a vanity press for the masses. You want to self-publish? Why pay some blowhard a couple thousand bucks to print and hundreds of copies of that book of yours that nobody wants to read? Now you can publish those books that nobody wants to read, but for free!
Then again, looking at the state of the publishing industry today, and the sales for even bestsellers, You might be better off with the percentage you get from Amazon than the little to nothing the publishers will leave you with.
For enterprising editors, those with a modicum of talent and the wherewithal to scrounge up a few willing authors, I think it may be a great way to enter into the world of publishing with a low cost approach, where, should a work suddenly start to sell, both the editor and the writer stand to gain, without the need to pay for the massive overhead and associated costs that come with publishing the old-fashioned way. Indeed, the case can be made that with all that overhead saved, an enterprising duo might even be able to afford to hire a freelance publicist or two to whip up interest in their work.
Something to think about.