I'm in the middle of a discussion about this with somebody else and would be interested to know what people think.

I've made 5 or 6 videos with my own band and putting them all up on Youtube and I've very much enjoyed the experience but I don't honestly think they've won us many more fans or raised our profile at all and, unless you've got the money to make a video of enough quality and to contact all the right people to get it on music TV channels, then it won't do much...

In your experience is there any point in spending £200/£300 on a video or are you better off just making it as cheap as possible in the circumsntances?