For my simple SEO project, I am well beyond the break-even point of £25 now with a few months left to run.
Contextual Ads: £21.59
eBay partnership: £7.75
Now, I am quite aware that a profit of £4 is not going to make me rich, but the purpose of the project is to see if a number of these sites can be built up to give a reasonable income, and so far the project is on-track. Once I have established cheaper hosting, then more of the turnover will become profit, turnover will hopefully grow a little and, once the project becomes part of a 'group' (all being within the same niche), the hope is that the sites being linked will give them vital relevant back-links that will appeal to Google.