Yeah I think you are correct, based on my reading thus far. It seems the best way to make real money with AdSense is by creating a site within a very, very specific niche that isn't exploited yet by thousands (millions?) of other sites competing for the same traffic.

Johnleehacker, am I correct here? I'm planning a few sites right now and looked at the Thirty Day Challenge for some clues as to how to go about this properly. Looking at launching the first site by the end of this week. I'm pretty creative so finding a niche shouldn't prove too difficult and I think I'm on the right track. I definitely don't want to be a small fish in a big pond with so many other big fish already established!