I've seen a recent copy of the Blu Phi'er contract, and it's an unprofessional mess.
It's an all-rights contract (despite the fact that there's no evidence the company has arrangements in place to market subsidiary rights). While the grant of rights appears to be for the life of copyright (exact wording: "Client herein irrevocably assigns all rights associated with the publishing of the aforementioned book to Blu Phi'er Publishing, L.L.C.") there's no provision for the return of rights to the author when the book is taken out of print--in fact, there's no out-of-print/reversion clause at all.
Also, the publisher takes all rights, but not only are these rights not enumerated, there's nothing in the contract to indicate what the author would be paid be should the publisher actually manage to sell or license any of them.
The royalty clause provides for payment on the book's cover price, but qualifies this by saying "after all funds expended by B.P.P. in the production of the book have been reimbursed." The wording is unclear, but it suggests either that the publisher won't pay royalties until production costs have been recouped, or else that the publisher will deduct the per-book production cost from the amount on which royalties are calculated. Either way, it's a net royalty.
Other issues too numerous to mention, including no time frame in which the publisher is required to publish; no obligation for the publisher to place a copyright notice in the book; nothing about the editing process or about the author getting a chance to approve proofs.