So I'd like to get some TBers opinion on a tough decision facing my band.
We have been together, in this current line-up, since May. We have approximately 16 songs we deem recordable. Prior to my entering the band, they had recorded a 5-track demo. It was done on the cheap at the in-house studio in our practice space, but it sounds very good for a demo; the only thing lacking are the vocals, which are a little flat.
At this point in our career as a band, we really want to record a full-length. We can go either of two routes; work with person A, who is essentially a good engineer. He has promised us a good rate (all told, to re-engineer two tracks from the demo and record maybe 8 new tracks, would be around $1000, obviously not including mastering, printing, artwork, etc) as he thinks we have alot of potential (people like us!). However, production would be left up to us, and it would still sounds like a very high quality demo with rudimentary mastering.
Option B is to work with a producer we have had a few meetings with. This would also be on the cheap, but that is a relative term; we don't know the exact number, but it is sure to be more than $1000! The advantage would be our album would sound very close to a professional, commercial release. Added to that, he is a fantastic producer, and it is always worth while to have somebody criticize your songs who ISN'T in the band!
So, do we A) record another cheap demo and shop it to labels, who would hopefully pick us up and set us up with a real producer to make a great sounding full-length
or
B) Put some cash down now to make a superior sounding, true piece of art that we can shop to labels for distribution, booking, and all the other advantages of a label?

Let me know guys, I value your opinion!
-Mark

PS We are an indie-pop band. Check us out at www.myspace.com/thisblueheaven

My vote is for B)

I had the experience of recording recently with an engineer/producer who has been huge in the music industry. He has worked withthe likes of:

Foo Fighters
NIN
Dave Matthews

and the list goes on and on...

Here is my advice. Go with full production, but if you cannot afford the full album, do an EP. Record 5 tracks, and master them, package them and sell them, and raise money to do the rest.

The experience was worth it. Also, if you pre-produce your music, and can nail the takes to a metronome first try... you will save tons of money...

We went in, and had all instruments tracked in less than 8 hours... Including set up.

Make sure you are playing each part perfectly... Every hour is money.

Just to let you know... Our producer costs $800 a day at headquarters.