I moved to Chicago in 1980 to go to college.
Buy groceries and feed yourself, even on the road.
By now all rock bands are wise enough to be suspicious of music industry scum.
Doubt the conventional wisdom unless you can verify it with reason and experiment.
It betrays hubris on the part of the artist to think his medium is limiting him, and I think we all recognize this.
The band cannot sign to another label or even put out its own material unless they are released from their agreement, which never happens.
I don't think anyone has exhausted the range of sound possible in a conventional rock band, but people do become slaves to their own easiest techniques.
For less than the cost of a Big Mac, fries and a Coke, you can buy a loaf of fresh bread and some good cheese or roast beef, which you will enjoy much more.
Find people who think like you and stick with them. Make only music you are passionate about. Work only with people you like and trust. Don't sign anything.
Make no mistake about it: once a band has signed a letter of intent, they will either eventually sign a contract that suits the label or they will be destroyed.