Yes, I have had success as I define it, so go for it. The key is to provide value for your reader. Sometimes you may discuss a product and the ad happens to show it, but most of the time you might discuss an idea and ads for people who are interested in these ideas will surface.
Do not believe the get rich quick schemes on the internet, however, that only want you to buy their software to publish a better website. I bought many software packages with a student discount (I am in grad school), and comparing Dreamweaver, FrontPage, and xsitepro, my most successful websites are done with Wordpress. I am in the process of changing all of them over to Wordpress because they are so easily indexed in the search engines and I can copy the designs of the websites almost exactly with Wordpress (free download at Wordpress.org).
Are you using Wordpress? If so, with your own domain, you can easily add adsense through the widgets, place a textbox where you want it, and paste the code in, and you have it. The best click through ads, however, are those placed in line with the text of your article at the beginning imo (and according to many other websites). Also, a horizontal bar below each post works great too. I removed my ads in the sidebar itself because they were not clicked on, and easily pasted them into the posts by changing the Presentation and theme file with some code. If you or anyone is interested, I would be happy to paste it here. I found it online, and it works great. Tamba2 is a great help for how to insert code.
I have several websites that I converted to blogs because the google search engine likes the blog format (Wordpress at least). Memorista is right that it is contrary to instinct since you earn more if people leave your site, however, I find that those who would stay anyway stay, and those who are just browsing, click. My Awstats show more people stay on my most successful site from 15 min to 1 hour than stay only 30 seconds to 2 minutes, and they click through many pages if they stay.
This blog also gives me the most clicks and money from Adsense. I make sure it looks tasteful and not "gimmicky", and I get a regular check from Google too-not a full time income, but it keeps growing. BTW, you have to earn $100 before they issue a check, otherwise the money carries over to the next month.
Speaking of money, while I get a monthly check from Google, I have yet to earn a penny from Amazon. I keep a few book images in my sidebar because they recommend books I believe help my readers, but no one has ever made a purchase (you only get paid if they click and then purchase). Amazon does have a new Beta program that has contextual ads, similar to Kontera.com. These pay just for clicks, but I do not feel right putting them on my best sites because they highlight words in your paragraphs, and if people hover over them, a box appears with the ad. This can look too gimmicky. I think it fits for a few of my sites, and I am trying now to decide which program to use to try it out, but imo Adsense alone is a great start. If you use Amazon contextual links, you can select a category such as jewelry to focus for the ads, so you might like it.
My 2 websites for my book are blogs also, but again, I design them so they look like a regular website and I do not include ads on those sites (although I may some day, who knows). There are other areas and niches that I want to write on, however, so for those I created blogs and it is fun to write articles about totally different areas, and to earn money as I do it.
I just started a year ago, and I am hoping to build the sites into a nice passive income base. My earnings steadily increase proportionate to my number of quality posts (note I said quality, not just "here's the weather
How-to subjects get the most response. Several plugins for Wordpress are the best at helping you get noticed and get thousands of visitors a month, such as SEO Title Tag, Evermore, Related Posts, Jerome's Keywords, and a few others I cannot remember unless I look up what I use- again, if anyone is interested I can list them. I think I also use Subscribe Me for social bookmarking. UTW is great but I do not use it- it conflicted with another plugin.
It is possible to earn money, but again, it depends. If you write quality posts, my experience agrees with the research (Problogger.net, WebmasterWorldForum, etc.) that shows for example a blog with 6000 unique visitors a month might earn 50-700 a month on adsense depending on ad placement, topic, etc., so if you have several blogs, you could build your income to a nice bonus just from blogging. For a fun personal blog, this may not be realistic, but for a focused blog, it is not that difficult to get this type of traffic. For example, if you like to write about topic A, then why not start a blog that answers questions about different aspects of this topic, and that are not found elsewhere? I find it is fun to vary my writing, and as I write more I improve my writing skills. The key is to get people to want to come back, and if you build this following, word spreads. You do not have to be famous. The blog I consider my success listed above is written under a pseudonym, but I have a large reader base that likes the writing. The encouraging comments also feel great and motivate me past writer's block!
Hope this helps...