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As some one who has ran small to medium sized SEMI successful paysites for over 10 years my most sincere advise to you is make sure you choose the right niche..
If brazzers has it avoid it.
If you are using LA pornstars avoid it.
If there are 10 big PPS programs with the same niche avoid it.
Now more than ever with the availability of free content its very important to have something surfers can not find all over the tubes, torrents, dvd download sites, etc etc..
IMO you can still carve out a great living on a small start up paysite if you find your niche.
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