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I have tested many affiliate programs that also do 1:5000, as soon as you see it's going that way you've got to test another one; rinse and repeat. These days my best tend to be around 1:1100, though I've also found an unsually good sponsor at the moment that's making around 1:300 (roughly). I'll certainly be sending a lot more traffic down that road.
TGP submission isn't completely dead, it can appear that way if you compare it to what it used to be, whereas if we view the glass as quarter full then there's still a lot to play for. These days the best TGP submissions are partners only, so you can look out for people around here selling them or even post up a thread asking for submission partner accounts. For example Shemp will sell you an account for $40 per month and he'll send you good traffic over. (do a search for him in GFY if you don't know him)
Some people are doing well from tubes, I haven't gone down that road myself, but it's clearly an easy way to pull in a lot of traffic then if you stick some Juicy Ads up you can monetize. It'll cost you more money for hosting than a blog though, for my blog I only pay $15 per month.
I started my blog back in 2007, though at the time it wasn't strictly a blog, I changed it to a Wordpress Blog around 18 months ago. When I first switched over sales plummeted and it took them a long time to return. It brings in plenty of Google traffic, I update once per day and I'm very happy with the sales I get. I also started another blog a few months ago, I haven't done much with it and haven't promoted it at all, but Google has already started pumping traffic over, so I see no reason why a new blog can't be set up in 2011; it can still work for the right person.
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