Ian Robinson sent me this link. It's Joe Konrath talking about the numbers involved in publishing, especially eBook publishing.
But now I'm convinced. Signing with a traditional publisher, even being offered $200k per book, is a VERY BAD IDEA.
My reply was:
I may have to reconsider my previously out-of print editions. With the explosion in eBook sales, I could make $300 a year.
The numbers he quotes even assume you get an advance. The possibilities for vanity press are even greater.