*wry grins* I know people who do free editing for their friends, too. There are a few exceptions, but in general, free editing is worth what you pay for it. I've seen more than one case where the author had to fix problems put in by their editing friends, and spent hours and hours doing it.
Personally, I think the "you have to sell your work to a large publishing house in order to get published" model is about to blow away on the winds. Unfortunately, it's actively crumbling and we don't quite have anything set up to replace it yet ... but we're working on it! The model we used to create Ravens actually worked quite well ... but it was a benefit, and it didn't involve paying anyone for their work. We want a model that will do that, too!
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Personally, I think the "you have to sell your work to a large publishing house in order to get published" model is about to blow away on the winds. Unfortunately, it's actively crumbling and we don't quite have anything set up to replace it yet ... but we're working on it! The model we used to create Ravens actually worked quite well ... but it was a benefit, and it didn't involve paying anyone for their work. We want a model that will do that, too!