Paid links are a great way to make money. As long as you have a supply of throw away sites.
What are the good source of income from your Website ? (like adsence, selling of link, selling of banners etc)
Combination of Adsense + CPA + Paid Links works great for me.
Custom Wordpress Themer
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If it goes alright, Affiliate earnings are great (IMO) but it requires a good amount of time and work before it pays off. Adsense is a nice extra too, it might even give most out of every method!
But everything where you can earn money with seems to be the best in my opinion, even selling Tweets are a good method
I use a nice mix of AdSense, BidVertiser, and Ads By Yahoo on my sites, all blended together in the template. In addition, I also promote CPA and affiliate offers on my blogs and sites through word-or-post as well as ad boxes on occasion when it fits with the color scheme of the overall page. Paid links are also a good way to go, once your site gets enough visitors that is. But at that point you can start a forum with a paid VIP section.
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