You know, another thing you should consider, is that recording people can really take up a lot of your and your band's creative time. In some ways it can kill it. This can be a cool thing for you guys to do, but keep perspective, b/c if creating is your main love, you are just going to get bitter by recording other people's lame ideas. Spend time recording your own lame ideas
This is kind of where I am at right now....