It's true the odds of getting anywhere are very slim. It's also true that the odds are your script may not be as good as you think it is. But the odds of having any kind of a success if you don't take steps to get your stuff out there is a big, fat zero.
Yes, living in LA and/or having industry connections makes it easier - primarily because it opens doors and gives you access. But if you do not have connections, then querying agents and/or producers, attending pitch fests and/or utilizing some of the services out there that for a fee could give you access (i.e. script shark, script pimp, the script broker) are probably the best ways to go.
Agents DO sign writers who query them. The percentage is quite small, but that has more to do with the quality of submissions than anything else.
Producers DO option and buy scripts from writers who query them. I speak from personal experience.
Producers, Agents and Managers who attend pitch fests ARE looking for projects.
If you are going to query - write a stellar query and have a solid logline. Remember the purpose of a query is to get someone interested in reading your script. That means the query itself better not be bland, boring, stiff or seem like you typed it in six seconds.
If you are going to pitch take the time to learn how to do so. Pitching is as much of a craft as writing. There's nothing worse than hearing a pitch where the writer stumbles and/or cannot answer basic questions about character motivation, conflict, theme etc.
Be sure to know what your "big idea" is. If you do not know what a "big idea" is - you are not ready to pitch your project either in person or on paper.
Whatever way you are going to go - whether you have connections or not, prepare yourself for a lot of rejection.