I'm in the process of having my first LP record cut.  In the past, I've had 12" singles on other labels, but this time, I am seeing firrst hand what an in-depth process this is and why many labels want nothing to do with vinyl.  To me, this makes it even more special to be doing real records in 2009. 

First of all, if you plan on doing a release both digitally and on wax, you have to submit two different masters.  While DIY mastering is possible in the digital domain to an extent, records can only be mastered by people with the right equipment and the right ears.  So, when you submit a CD for replication or digital downloading, you get an exact copy of what you submit (except for the MP3 encoding for dowloads).  Vinyl mastering, on the other hand, needs to consider panning, low frequncies, sibilant frequencies, duration of sides, and some other factors.  After mastering comes electro plating. This is a process where the cut lacquers from the mastering engineer are covered in a thin layer of metal to make the stamps that make the records.  Finally, there's the record plant who will send you a few test presses so that you can determine if evereything sounds ok and that you can proceed with making all of the copies.

If you are having special jackets and labels printed, this may require yet another party to be involved.  Some places are a one stop shop but you need to be sure you are getting a good price and a quality product.  Keep in mind that CDs and LPs have different dimensions for the artwork so that's another set of templates to be submitted from your art department.

Is throwing your stuff on iTunes and promoting it online easy?  Maybe.  However, if you know what it's like to lay down a needle into a groove while looking at a 12 x 12 piece of artwork, you may consider going the extra mile.  And the sound...that's an argument for another time.  (We all know vinyl wins, right?)