I'll tell a story of my experiences in independent film.
In a city I was once living in, I was a part of a fairly large circle of artistic types. I befriended an independent filmmaker who was dabbling in little 20-minute experimental videos. I donated some of my time and resources to score a couple of them.
I made some mistakes, and more importantly, I learned a lot. I think this kind of no-risk, blind experimentation is a great way to learn. With film scores, one is forced into a very confined situation. The music must be of a particular mood and of a particular duration. The composer is a servant to the necessities of the storyline and the visuals. This may be difficult for some egos.
I am also a great lover of B-movies (aka. low-budget independent films), so I've always got my feelers out searching for a way to find another good B-movie.
My local independent university radio station had an occasional "movie news" segment. One day I heard them mention that an independent film studio that I was familiar with [whom shall go nameless] was about to start a new film, I sent them a short letter and some of my music on CD. I was hoping to put some of my experience and new sampling software to work.
The studio liked my stuff, and they sent me .mpg video files to put some music to (as an experiment). I did so, and the collaboration looked like it would be successful.
Eventually, they sent me a VHS tape (hey, we're talking independent films here) of a rough cut of the new film. I loved the movie. We agreed on a price. A very small price. Very small indeed.

But it would be a chance to be the chief composer and music director of a 90-minute film with a good probability of decent audience exposure.
Eventually the film and my score was completed and I'm quite proud of the results from everyone involved. This is one of the reasons I love independent cinema. The people involved with the project were devoted to the project, not just the paycheck. I realized that everyone involved in the film was as 'talented' and experience-driven as I. That is, eager, yet inexperienced.
The way I see it, independent film companies have virtually NO money. If you plan on making money scoring independent films, forget it. If you, as I feel I did, use the experience as a means to an end, go for it. Use it as a step towards the majors.
Don't forget that independent doesn't mean it's crap. Today's independent often leads to tomorrow's blockbuster! Whether it's independent music or independent film.