I think our approach is the best, we took the old approach of having rotating Java script banners and killed that, and added our list of banners on the side...
IMO if you have a niche you can contact companies in the space and have them advertise their products.
I have seen some of your other sites, mostly to get an idea of how much traffic you have, and I'm sure we are in the top 3 from a revenue standpoint.
I don't like the idea of charging members because that can create resistance for folks to join. In our auto niche, all the sites are free to users so we can't charge anything to folks.
We have almost 15,000 registered users and have about 2000 posts per 24 hr period.
PSJ
www.ls1tech.com