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My main site has been penalized 3 times by Google since I've launched it late April of this year.
I've used free blogs for backlinks. Invisible text (unintentionally because of CSS and regular html code). on page keyword spam, and other stuff I can't remember. After fixing the problems and filing reconsideration requests, my traffic has returned to normal ~20 visits a day. It's going to take an eternity for me to get some conversion.
I'm a newbie my self, and suck at getting adult traffic. For me it's easier getting traffic with a Computer graphics artist site. I post my artwork on the cg-Artist forums and that drives traffic. Porn forums are different, most of the stuff there is pirated content.
I recommend doing SEO experiments on a free page like a thumb blogger page. Find out what you can and can't get away with.
If your free site gets a Google penalty you'll lose no sleep over it, no money lost, and you'll learn what not to do.
If your paid site gets a Google penalty you'll lose sleep over it, lose money, lose time and effort filing reconsideration requests (it takes over a month to recover after filing a request if you fixed the items being penalized). But, you'll learn what not to do. This method is, of course, the hard way.
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