Seriously???
How many folks do you know that have gotten "rich" playing covers???
It's not about the $$, it's about getting gigs, booked in "A" venues, repeats, weddings, festivals, corp events, etc.
I can assure you that I play far more frequently and get better pay than 98% of the original bands in my area and I don't have to travel all over the state (TX is pretty large) and play ANY venue/event/festival I can get into to get my music heard! Been there, done that...
And yeap, I would use trax before I'd "pay to play"!
NO illusions of success or any of that .. too old. Don't care.. but even so, I'm still playing 80+ gigs a year.
EDIT: and that's with 1 weekend a month "off".