It's awesome. I'm not going to summarize. The comments thread, as always for Dear Author, is worth your time, particularly since I'm pretty sure at least one and perhaps two participants are employed by publishers to do PR/damage control/reframing.
Rusch has a really good current entry at The Business Rusch:
I check in occasionally (fiction and non-fiction) even tho her style is too verbose for me to actually enjoy. She says things that are worth thinking about (and she's a good source in a lot of ways). This paragraph really stood out:
... "Writers don’t have to give up their traditional publishing contracts. Writers do have to negotiate for better terms. And writers should probably not hire agents to do so, at least while this change is going on. Hire an IP lawyer instead—if you chose to remain in traditional publishing."
That got me thinking. There _are_ IP lawyers who have not passed the Patent Bar, and I've always been a little vague on who might hire them. Here's someone else on the topic (and boy, he really ought to know):
He doesn't think an author should hire an IP lawyer ("Does a copyright specialist bring anything vital to the negotiation of a publishing contract or an agency contract?
In PG’s opinion, he or she does not. These are basically business agreements. The author is licensing his/her copyright, but exotic copyright issues are almost never involved. A copyright attorney may or may not be very skilled at contract negotiations and drafting.") -- but he _does_ think that the contracts suck and whenever someone outside the community gets involved they try to fix the contracts so they suck less. ("Returning to the frequently-voiced concern of agents regarding having an outside attorney review publishing contracts, PG has come to the conclusion that other attorneys before him, not steeped in the sloppy nature of some publishing contracts, slow the process down because they work to clean the contracts up before their clients sign them.") I don't see an obvious piece of advice as to who you _should_ hire.
Further evidence that the publishing community has been slacking for decades, I guess.