Marketing an artist's work

I was speaking with a few other artists about marketing artwork the other night.
We spoke about the alternatives and where each thought we should go with our own work.
The talk was enlightening, inspiring, and I really thought it might interest others as well.
One option was to get involved in the community, attend meetings, and shake a lot of hands. In other words, network and collect names that could be applied to our mailing lists. This could mean a greater audience to future shows and more people familiar with us personally. The downside of the self-promotion, according to some of us, is that the time spent doing that would mean less time to spend at the easel producing work to actually promote. Less time at the easel could mean that we don't continually improve our skills and become the best painters we can be.
Another option mentioned was to paint our 'hineys' off and become such good painters that we're desired in galleries world-wide and we could let them promote us, always leaving us the time to paint.
I believe that there should be a balance of both. We cannot paint all day, every day, or we don't have any idea what is going on in the outside world, and we become very dry in what we have to offer in our paintings. On the other hand, we cannot tie up all our time in self-promotion, or we have created no wares to peddle.
Getting out in the world on occasion and meeting and greeting, adding names to our mailing lists, and hearing what the world is thinking is very important. And, learning to say no so that we are not joining every committee and volunteering for everything that comes along is also important.
It's my view that the combination makes a well-rounded person who will have lots to offer in his/her paintings, and will have amassed a group of devoted friends and collectors.
Doing so leaves the bulk of the promotion of one's work to the galleries, but it sure doesn't hurt to have a following who will add to the sweetness of the promotional pot.