That is an excellent question. I would like to hear some of the pros weigh in on this...although I am not sure it would be best to bad mouth the hand that is feeding you.
I always wondered this about PRO sports. Most of us on this board really enjoy fishing...would we really enjoy it if we were forced to go out in 35 degree weather with 30-40mph wind gusts and 3-4ft in our fresh Goretex suit for a photo op just because our ranger and Gortex sponsors told us to? I am not sure I would...not to say that I wouldn't do this for fun (once), but I don't think I would appreciate being told to do so.
I imagine you could lose a lot of the fun and excitement that fishing brings when you do get sponsors when they begin pulling your strings.
Fishing for me is an escape from the realities of work and the world. I work so that I can afford to fish.
If the reason you are looking for a sponsor is so that you can afford to fish, you are doing it for the wrong reason. Get a good daytime job, work hard, fish your time off, be frugal with your money (have little debt and invest in the future) and retire early. That's my plan and I'm sticking to it.
Just one more point before I hop off my soapbox...These companies are looking for people to buy their product, not for people to give it away to. Buy the product, prove it works by using it and then talk about the product. If you are influential enough to get people to buy it, the company making the product will approach you. In other words, don't let sponsorship be the means to recognition...recognition is the means to sponsorship.
Oh by the way...I know I just join BassResource.com, but I am a really good web surfer and the web is costing me some money...since this is a great site, I was hoping you could sponsor my web surfing. A little check in the mail each month would be great...BTW, I can surf twice as good as the next guy in case you were wondering... ;D