Great Peggy. Glad to see you and have you back over here. Did I get to all your points? It was kind of late last night when I did that but I hope I covered everything.
The short answer is "sure", let them record your song, and help them promote it. What else are you doing with it? Isn't that the purpose you are writing?
I believe that we all make this more complicated than it should be. The vast majority of music earns NO MONEY, and is only heard by a very small amount of people, unless it is taken to those higher levels, at which point there would be other people involved to assit on things like liscencing, publishing, etc. And the entire mechanical system of the entertainment industry as a whole has FALLEN COMPLTELY APART. We are having to make up our own rules as we go along now and mostly we are on our own.
So make things fit what you need them to and be open and honest with who you are working with.
AND WRITE MORE DAMN SONGS!!!
MAB