Let me get your opinion on something...

Me and a couple friends of mine are going to attempt to start a lower power (frequency will only reach a couple of miles) FM station. I was wondering wether this is a good idea (legally) and wether there is a good chance we could get raped since we won't be able to get a license. FCC hasn't given out a LPFM (Low Power FM) license out in a long time and their making it tighter to get one. Along those lines FCC Equipment will cost a leg, arm and kidney.