I think if you're a competent actor with a good imagination, and if it's on the page, it makes your job a lot easier.
Make no mistake about it: once a band has signed a letter of intent, they will either eventually sign a contract that suits the label or they will be destroyed.
As to judging our own time, and thereby gaining some basis for a judgment of future possibilities, we are doubtless not only too close to it to appraise it but too much formed by it and enclosed within it to do so.