As to advances and royalties: small presses don't pay advances as often. True. But that's always been fine with me, as an advance is only that: an advance against future royalties. So you earn no royalties until the book has "earned out" its advance, and, according to the experts, the majority of books take years to do that--if they ever do. And your advance isn't likely to be a cool million bucks. Heck, no. Try a couple thousand dollars. To last you a few years? I'd rather just take the modest quarterly royalties I rightfully earned. In addition, royalty rates with big houses are usually smaller than ours in the small-press world.
So between the personal attention, the input we're allowed on cover art (again, almost unheard of in the big publishing world), the no-worse-than-average royalties, and the way e-readers have taken off lately, I'm getting happier by the year to be involved in small-press publishing.
Also, in the small-press world, we're far less likely to have movies made of our books. That's actually a blessing in disguise. Let's be honest: 9 times out of 10, doesn't the movie adaptation suck? And the writer usually gets no say in it. I mean, even with Twilight, which had the most gigantic following in the world and should have been able to afford doing everything perfectly, they couldn't get the makeup right and ended up making Robert Pattinson look like a powdered donut with lipstick.