I would diversify and buy some established sites with a prove track record. I don't mean paysites rather affiliate sites like blog network or tube network. The more niche diversified the network the better.
I would also concentrate in on areas that are not piratable like cams and dating and build up niche networks in these areas.
Then I would spend x ammount per month on buying contextual links for my bought and newly built networks to rank them to get the seo gold traffic.
I'd never buy traffic and I would outsource it to a company like mine to manage it so I can concentrate on the big picture and not the grunt work.
Feel free to hit me up on ICQ, I deal with a lot of webmasters and see and hear a lot therefore of what makes money and what doesn't. Cheers
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