Anyone familiar with Amazon CreateSpace?

http://www.amazon.com/gp/feature.html/ref=amb_link_361334542...

Reading the above article has kind of got me curious about Amazon self-publishing. Word of mouth advertising in this day and age is actually pretty huge. There's a #1 bestseller, the name of which I've completely forgotten now (It was referred to as "Twilight for Moms" in a recent news article :-P) that was huge with eReaders, IIRC. So, yeah. I'm thinking about using this to publish Book one of Becoming Robin.

A couple of key points that I find interesting are that it's non-exclusivity contract, there's no setup fee, "up to" 70% royalties (Note the up to in quotes :-P), and a "Free CreateSpace ISBN or UPC if you don't yet have one."

I'll be honest. I don't care if I don't make millions off Becoming Robin or any of my other stories. I just want to get paid to do what I love to do, be it writing, photography, or whatever. This all sounds too good to be true. I've always been a firm believer that self-publishing is like admitting defeat before you've even tried, but in today's market, where bands can be discovered on iTunes or Facebook without needing a big record label, I'm wondering if maybe the same can happen for authors?

Is it a pipe dream? Am I just fooling myself?

What do you think?