There is another option, which is hybrid publishers. Sometimes, for a strong proposal, they'll take a punt. Sometimes, they'll get you to pay upfront. I agree with Jo and Toby, the publishing arena is dire at the moment. Mind you, that's allowed me to not give a s**t -- my new novel (professionally edited and with a fab cover) will be sold in one small bookshop in Shropshire. I plan other don't-give-a-damn publications.