Self Publishing vs Publishing with a Publisher

Would be interested to hear some of your views on self-publishing. If you've been successful,  perhaps you can share some advice with the rest of it. Obviously I still put my work out there for the traditional  publishers to look at. And if they take it it lends more credibility to your work. So I figure it doesn't hurt to play in both arenas, the publisher and self published arena. The more you do, the better your chances! As always, I welcome all of your comments and ideas.