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Using an EPK as your website?

I've seen (and heard from the horse's mouth) that these EPK's are just a cash-raking service to bands/musicians. I won't mention names or companies, but imagine....

"Submit your EPK for a chance to play a HUGE gig, it's only $20 to submit"

Little do you know the bands are all booked, and no one will look at your EPK twice.

150 bands submit anyway = $3000 pure profit.

I would build a site on Facebook, Myspace, and your own domain. If your domain is already taken, just do a BANDNAMEMusic.com or something like that. Hosting a site and buying a domain is very cheap, only issue is updating it yourself.
 
I think the point is to use any website, facebook ,myspace etc as an EPK for shows. The old go out and drop off CDs etc still works and I do it but allot of the time people I book with want a website with music (EPK) so I send it. You are talking about pay sites like sonic bids etc...I wont go there.
 
I suggest building a website instead of an EPK. It’s a more professional and comprehensive resume with features like a music player, etc.

We use Noiseyard, it's easy to set up.
 
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For a cover band, I think the best option is Facebook to promote.
All the venues you might play have pages there so you can tie your event to the specific venue.
All the local music scene pages are there and you can post your events there.
It's very easy for followers to actually follow you.
It's an easy shout out from the stage a couple of times per show.

Everything else has limited usefulness IMHO.
An EPK can be a place to showcase vids/audio and song list...and you can send a venue manager there to look.
Typically we have found it more useful for private party and corporate bookings.
We use Reverb Nation. It rarely gets updated. Way more vids and pics attached to our FB page by fans...and us.