In the past, I've made most of my money on clicks that average 4-5 cents per click (or less).

I've found it easier to make money from popular terms that don't pay as much.

My own experiences are not scientific by any means. One of my pet peeves is someone on the web taking their own experiences, then saying "This is how it is for everyone else".

You may be better off going for some of the terms that pay more. Then again, you may be better off going after terms that pay less...

Marketing = testing.