Just a couple of other notes from me. I don’t mind scanning for good/new artists, so posting on forums with track info — your myspace account or something similar — is Ok. However, if it takes lots of work to get access to the track, such as logging into file sharing services, I back off — sorry don’t just have enough time. So make it easy for anyone for finding your music.
Also, if you want to release commercial tracks, you should guard such material, do not let it loose on P2P or even let others download such tracks. You could put up one, two or three-minute samples of the track. Or then, if you want to share it, that’s fine, but it’s not a commercial track, then. After a possible release, it’s also understood that you don’t give out the track, defeats the whole purpose.
Try to avoid trying to sell the track to multiple places at the same time, if you get multiple offers, it’s not fair when the labels put effort into working initially with you, and you had multiple people working on a record deal for you. Just stagger out the effort, one label at a time. If someone does not respond within a reasonable time, where I think max ten days is the limit, go to the next one.
But as Pheek said, if you find the right label that matches your music, and it’s good, it should work out fine.