Daniel Lyons aka "Fake Steve Jobs" isn't holding his breath for his:
Last year the total spent on blog advertising in the United States was a mere $411 million, according to researcher eMarketer. That represents only a sliver of the $23.7 billion spent on U.S. Internet ads last year, which is itself only a fraction of the $276.8 billion spent on all forms of advertising in the U.S. By 2012 blog ad spending will reach $746 million, while overall online ad spending will hit $32 billion, eMarketer says. More money was spent on e-mail advertising last year than was spent on blog advertisingyet you don't see anyone touting e-mail as the next big billion-dollar media business. Technorati, a blog researcher, estimates that bloggers who run ads earn an average of $5,060 per year. Don't call the Ferrari dealer just yet.
Jason Kottke gets the blogging economy about right. I've managed to finagle a salary for this. But I wrote this blog for years as a labor of love. If you expect nothing, especially at the start, you're doing it for the right reason.