Geeezzz, just got on this thread, took me forever to get through the posts. So, I'll just make a few comments, because I can't remember the first posts anymore.
First of all, I disliked the "10 minute to write the lyric" comment. I know others have commented on it, but I spend a ton of time on my lyrics, and want to agree with those who objected to this comment. And to further my point of view, I ask how many songs on any chart these days are instrumentals? Almost zero. Seems like lyrics might be important.
I write both poetry and song lyrics. In song lyrics, you have to know where to put spaces that are not found in poetry. Those spaces are filled with the music production.
So, in my personal case, I write the lyrics, the melody, and the prosody of the song. I have no problem paying a professional demo firm to do the final arrangement, to use professional musicians, and the singer of my choice. Because (not that I've ever had to worry about it) after I've paid their fee, the song belongs to me, period. If I'm ever lucky enough to get a cut, I haven't given away half the song to some producer already.
I play a couple of instruments. Saxaphone -- but playing that and singing at the same time is exceedingly difficult. I play a mediocre guitar, but to play guitar and sing at the same time, to me, is like rubbing my stomach counterclockwise and patting myself on the head at 3/4 time. Not a pretty result.
So, I'm taking up a new instrument. Cowbell. What song couldn't use more cowbell?
Ott