It depends what your goal is. If your goal is just to get your books into the hands of a small audience you know exists, and you don't mind selling only a few hundred copies and not earning the respect of your fellow writers, then now may be the time to self-publish. I'm not being sarcastic at all; that is a moderate goal some writers have, and "success" as such is not essential to them--they just want the book in the hands of their readers sometime in the foreseeable future. That desire is what prompted me to POD publish, and the experience has been satisfactory for me. I haven't received my latest sales report, but in my first five months I sold a few hundred copies and made a net profit over and above my expenses of about $500. The book continues to enjoy moderate sales and mostly positive reviews, and I have had the gratification of having readers (strangers) contact me personally to tell me how much they enjoyed the book.
However, if you know you aren't going to be satisfied with a low level of sales, hold out for a traditional publisher. If you know you will feel belittled or embarrassed to not have your fellow writers regard you as a "real" writer, then hold out for a traditional publisher. And, if you don't think your existing audience is large enough to recoup your self-publishing costs in the first year, then...well...I guess hold the book in your desk drawer, or just send Xerox copies to friends.