Jason,

>1. Do you think it is reasonable for me to be able to create
>2 websites a week that earn $5/day using these products?

There's many factors, and I don't want to make promises. Some people make hundreds per day from multiple sites and others make a penny or two a day.

>2. How much time per day do you think I'd have to commit to
>this to achieve this goal?

Without knowing your skills and abilities, this is a hard question to answer. Also, you can always do "more", and may need to depending on how competitive your niches are.

IF you have strong webmaster skill, I'd say spend 5-10 hours learning ZZ, another 5 learning basic SEO and linking and another 5 hours learning my own theories.

Then, you should be able to product decent sites in about an hour, with another 30 minutes follow up sometime in the future, plus some time for extrenal linking strategies to increase PR and indexing.