How to set up a record label

The guys over at AudioFX are rumouring what seems to be a more and more commonplace rumour nowadays: how does one set up one's own record label?
There are some great articles on how to do this, but the question we should be addressing is really whether or not record labels (or "representative companies") are still a hot commodity, given the changing nature of the industry.
I'll address this pertinent question straight after I get some lunch. Feeling kinda peckish.
Right. I'm back. What was the question? Oh yeah: will itemised, self-distributed single tracks replace or shift the balance of power between the traditional album-producing artist and the record label?
Comments?
Today's links:
- AudioFX.co.za
- Indidginus (sweet CT electronic from a guy we're featuring on Overtone)
