Received a rejection today (see below post about celebra-vomiting). On the plus side, the agent responded quickly. Also on the plus side, the rejection was "nice" - addressed to me personally and encouraging - said I was a "writer of talent" and suggested I keep sending it out to others. Maybe this is what they tell everyone they reject, but from what I've heard, I don't think so.
Therefore, it is not bad news. Not great news, but not bad either. Next step: keep sending it out. I am making a list of 5 more agents and then I will send it out again.
For the record, this is book #1 which I finished 3 years ago and then shelved because I couldn't stand looking at it any more. I dusted it off and polished it when an agent was interested in the concept, and I discovered it was actually good - why did I shelve it? Sometimes I'm not so bright.
Got to go get back on the horse.