Yes, you should. It's not that the vocals are particularly bad but they are not 'pro'. The first thing that gets a any attention at a label is vocals. That's why American Idol is about singers and not guitar players. the vocals as they are seem very strained and don't have the broad, strong sound a current band and should compare to the bands you list as influences.

About 10 years ago, part of my business included a moderately well distributed label. Got mountains and mountains of demos and the first song and first verse almost always were the determining factor. Even with our own schlock little label, we didn't have time to listen to a whole demo to see if we could 'get it'. If we didn't have time to waste on listening to a whole demo, imagine a major.

Vocals first.

Just a note on the song itself. Good, but it tended to drag a little bit. It was a decent vibe but needs a turn around in there somewhere. If it maintains the same vibe throughout, it will lose a listener. You need a riff/section a time or two with a different approach. Think in terms of Cemetery Gates. The song starts with a more melodic vibe and then riffs it up. Alternate a time or two with a counterpoint section.

I also think that should the kind of vocalist you want to look for. A good, clean melodic singer that also can get a deep, growling Phil or Layne Staley deal. Granted, not Easy to find but you want to have vocals that fit your stuff.

So, thoughts...