10,000 sign-ups total = payout: $350,000
10,000 sign-ups X 500 uniques = 5 million hits
60% trials = 6,000 trials X $4.95 = $29,700
40% full month = 4,000 full X $39.95 = $159,800
30% trial convert = 1,800 full X $39.95 = $71,910
1st month members = 5800
2nd month members = 2610 @ 55% drop X $39.95 = $104,269
3rd month members = 1174 @ 55% drop X $39.95 = $46,901
Total: $412,580 - 12% processing = $363071
10% of sign-ups is an xsale = $10 per sale = $10,000
50% of the traffic will see the exit, 1:3000 convert to view rate X $35 per sale = $29166
New Total: $402237 profit of = $52237
Still have longer-term retention; e-mails, hope to god better exit results, up sells, and a mixture of other areas pps programs make money. Some don't pay on checks, web900, etc.. Some say they do, but don't. Type-in traffic from webmaster screwups or just for whatever reason.. And a mixture of other BS that paysites can earn income with.
Some programs can run PPS with no xsales and much lower exit rates, as long as retention is good. First off "MOST" programs have a 20% trial to convert rate. 30-35% isn't easy to his these days. 45% month to month, isn't bad, not what most PPS programs sit at.
Fact is, you CAN run a PPS program, and not shave. Well my math could be off some

A good, no bs, recurring program, will crush a PPS in payouts though.. Joins are worth $80-$120 on average.. Do you want $35ps or $40-$60+ after a split.. Invest over time, or instant return. The above math is $36 per join value just after 3 months. Long-term retention would put it over $80 a join. Earning you more than a PPS program. I have to admit though; it needs to be a good revshare system.