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i started a blog a few years ago as a side project. it became a 5 blog network - posted daily each on a specific niche. the natural seo of WP is great and with some optimization you can serp out pretty well. it did okay, traffic was okay and so were conversion rates especially within the niche.
as an affiliate for the amount of work put though it just wasn't worth it, some of those blogs sit dormant but still grab traffic now.
i did find that adding a blog as a compliment to a paysite marketing campaign is a good idea and should be considered a requirement.
there is one guy (not sure who it is) but he's got a pretty massive blog network out there and has all major "star" serps locked down, using WP as a landing page more less.
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Jimmy James  ATKingdom/AMK Empire Since 1996 - My Movies
Home of ATKGirlfriends - Where we take pornstars on trips...and fuck them. 
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