I don't think "unsigned" is a bad thing at all. I've seen a tendency in the local music scene, where unsigned acts play shows fueled by passion and ambition, while signed acts don't get near that. Typically, the unsigned ones have as much energy as GNR displays in the famous Ritz-show from 1988, and when they finally get signed, they just start standing still on-stage, as if they're trying to say "we've got a record deal, we don't need to impress you anymore".

Personally, I don't even want that highly coveted record deal. I can't really see what it can do that a band can't do on their own. The first band I ever jammed with was too caught up in getting that record deal to even bother recording any more than one demo themselves, while the two guys I'm gonna try jamming with now are way more well-equipped. They have their own recording studio in their rehearsal space, with studio-quality gear, no less.

I've listened to a few songs by the band's they're influenced by, and so far, it actually sounds much better than I had thought it would. I think I could have lots of fun playing some of that stuff.