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I think the best strategy is to take a portfolio of mini sites, see which ones show promise and then invest your time in promoting them. By doing this, you get a feeling for which niches pay well.
If you've got your adsense linked to analytics - you can look at the pages/keywords that are generating your traffic and clicks, put them into a ranking tool and then target these for future promotion. For example, you see that you are generating revenue from the term 'wireless routers compared' and then you check where you rank for that (say you rank 6)- and then build more content around that and do keyword specific link building. If you can improve the site to 3, then it follows ceteris paribus you'll get more traffic, more clicks and more revenue.
So while the large network is a great way to test different niches, to generate sizeable revenue I think you need to use the feedback you get from your network to point you in the right direction as far as stage 2 (promotion) is concerned.
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