I am at the cusp of finishing my PhD, and my advisor and I have decided that it is time to publish since there seems to be no hole in the theories that I propose. I have always maintained that I'd like to get a publication in the good letters section such as Physical Review Letters and then submit a longer manuscript to a more specific journal (in my field that would be the Physics of Fluids). My advisor isn't a fan of arXiv as he see it only for preprints with little advantage as it would be easier to just circulate my manuscript among 10-15 established people in the field.
So my question is/questions are:
- Is it useful to send in a manuscript to a letters section of a prestigious journal such as the PRL for quick dissemination of my work as well as brownie points for having published in the PRL despite a really high rejection rate.
- Are letters section of journals really quick (with a short submission to publication time)?
- As a contingency plan, a rejection would mean what exactly to my career/immediate future?
- I have always had a soft spot for arXiv since several important works were first disseminated on it but I find that in the engineering community there is still some resistance to arXiv, any comments?
As a side note, I have read the several questions about arXiv on academia.SE and somehow I am not entirely convinced that a young academecian would gain much from publishing in arXiv than in a regular journal.