aaand that brings us back to my original sentiment. If the money being collected by the RIAA and the like was actually ending up in the pockets of those who actually created and produced the arts I'd be more than happy to support the cause. However it is not or if it is it is a very small percentage and only enough to benefit those who are already mega rich.
Just set yourself up on your own and leave those bastards out of the picture. You may not make a million bucks doing it but very few do. If you cover your costs great. If you make a bit of extra cash. Bonus. If you manage to actually break through all the barriers and forces against you and make it big on your own... then you have set a precedent that we all should be striving for to put finally put a nasty, greedy industry in its place and your cover of My Way will have true meaning... but of course you'll likely have to pay some greasy shart for the privilege of doing so maybe write your own song of self reliance and triumph.
One thing a lot of people don't understand or willfully ignore is the existing copyright laws already covered all this stuff. The whole idea of making something that's already illegal MORE illegal is silly and sadly we see more and more of this type of behavior. Why? Politics. That's why. More money for campaign coffers and more intrusions into peoples freedoms and privacy. It's smoke and mirrors, baby.
*adjusts tinfoil hat*