It's a great money spinner for the label's once the artists finally retire (or, you know, die).
There have been recent Elvis/Beatles/Jimmy Hendrix releases that have contained 'new songs'.
With the whole 'It Was' being left over, that doesn't always work out. Gwen Stefani's 'Sweet Escape' was half of the left over's from her 'LAMB' album, and the fact they weren't good enough first time around really shows.
Demo's are usually interesting as they give the song a whole new take. Shelved tracks however can dissapoint.
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