Shit I read all that
I am not sure if it would work or not, I do think you would at least end up with a ok sized TGP at the end of the day and will make your money back for hosting and the traffic at least. If one can not do that they are either retarded or couldnt sell water to a dehyrdrated guy stuck in the desert with a wad of cash.
I do not think you would sell banner spaces as easily as you guessed. People want to see sustained traffic over a long period of time, not an instant burst and no history.
I also appreciate there has been no begging or plea's for cash from him. Yeah he said he was leaving and came right back, but shit who cares. I would also like to point out that he paid me money owed despite is finacial doom, and he did not even ask for extra time or sympathy for his condition. That alone puts him a lil higher on the ladder than several people I know.