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Neil, I think the size of your publishing house may somewhat color your optimistic view of the overall quality of manuscripts in circulation. If someone submits to you they first have to know you exist, which shows a somewhat greater cluefulness than the world at large. Joe Schmoe pulls his favorite book off the shelf, checks the publisher, and sends his magnum opus there. I suspect the percentage of utter crap arriving over the transom at big-name publishers surpasses your own by at least one order of magnitude.
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