I've been playing in cover and tribute bands for the last 10 years, with some sporadic original projects. Without a doubt, the original stuff (which I have done for the last 20 years), to me, is the most rewarding. It generally doesn't pay as well, but there are usually bigger crowds, as the venues are designed to showcase original music. I toured the southwest with some bands back in the late 90's/early 2000's and it was a total blast.
These days, with a family, it's a lot harder to do those things, so my free time commands a premium. Gone are the days where I'll play a 3 hour gig + getting there and getting back with no help loading and unloading my gear for $100. Some of the higher paying gigs aren't much fun, but I can pretty much do my own thing and make it somewhat enjoyable. I played a $500 per man wedding gig a couple of months ago which was totally lame. A week later I played a $200 80's gig that was an hour long and we all wanted to keep playing because it was so much fun. I played a 5-night stint at Margaritaville in Key West in a Buffet tribute band in 2002. I think I made a grand that week and it was pretty fun, but if I hear Cheeseburger in Paradise one more time, my ears will bleed.
I think there needs to be a balance of time, money and enjoyment and it's different for everyone. I don't need the money from gigs anymore, but my time is certainly more valuable than it used to be.
