Self publish with Harlequin

I saw this and had heart failure. The chance to be published beneath the mighty arm of Harlequin but not go through the agony of querying and waiting and subbing and waiting. It is going to be mighty tempting to a lot of people.

Harlequin is starting a self-publishing venture where you pay between $599 and $1599 to publish your book.

Here's the link. Harlequin Horizons.

More disturbing is the fact that all form rejections from Harlequin will direct you to Harlequin Horizons.

Let me know what your thoughts are.

Update: RWA has determined that Harlequin is now a subsidy/vanity press and they are no longer eligible to receive conference resources. Regarding the 2009 national conference RWA has stated: "Eligible publishers are provided free meeting space for book signings, are given the opportunity to hold editor appointments, and are allowed to offer spotlights on their programs." This means Harlequin will not be participating like this.

I don't know all the ramifications of this change in status, but I can't imagine any of it's going to be good.