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Would you walk?

I've been playing with a band for around 4 years, not my "main" band, but still a great bunch of guys and we've recorded 2 EP's in our time.

We, well the singer/BL, decided it was time to record another EP at the start of March. Ok no worries. We start demo-ing stuff and workshopping the tunes and a few night ago I was recording my final bass lines when the singer tells me - 3 weeks after we record he's moving interstate - in Australia this is a 10 hour drive! I was not impressed. He then tells me the only reason he wants to record is to have something to show for the last 18 months with the band. No chance of gigs/promotion/moving forward. Nothing.

CONS - It's going to be 5 hours a week for 7 weeks jamming to get tighter. At least 2 days off work for me to be in the studio (I run my own business so this is going to cost me $$$). About $1700 each to actually pay for the recording.

PROS - Having a few tunes to listen to. Recording is fun.

So my question to you - would you walk? Would you go through with it?

Have you been in a similar situation?
Seems like a gross misrepresentation via non-disclosure in order to extract that much money from others for what could only be demo music. If he offered to pay for it so he had a demo with you guys as his backing, that would have been much more transparent.
 
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Financially it makes no sense, but when does music ever makes sense in that way? What do you want more the recording or the money?

Sorry to be no help but as others have said, it's really your personal decision.
 
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