I play in both. I enjoy the diversity of the the covers bands, I love playing live, I love the buzz from the punters every time, I like most of the songs I'm asked to play, and the money's good. And Because of the dep nature of two of the bands I'm in, I get to play with different, talented people a lot. I've become a better player since I started playing in a couple of function bands with good, different musicians, and with set material I would never have played otherwise. If I had the time in my life at the moment I'd learn to read, so I could diversify even more. For the record, I'm 50 next year.
I'm hugely proud of our originals album, and it's a different buzz when people like that music, but I'm not precious about it.
I've encountered the same levels of self-delusion in both covers and original bands: I've heard bands who thought they were fantastic and were rubbish in both genres, but it's always a bit more arse-clenching when it's an originals band.