Rory at Neopoleon.com talks a little about his opinions on podcasting and crosses over a bit into a description of traditional record contracts:

For those of you who haven’t ever seen a real record contract (I’m talking about something from big media), allow me to summarize exactly what you should expect to see as a Rising Star in the world of popular music:

    Oh, dang. We’re all out of lube. This is going to chafe – are you a bleeder?