Can you make money from your blog?

There seems to be plenty of discussion about the pro's and cons of monetising blogs. Is it viable, and is it right? These are becoming the well worn points of contention.

Megnut wrote an interesting article titled Blogging for Dollars: Giving Rise to the Professional Blogger She says:

‘Most financial discussions focus on blog content and explore donations, advertising, or some type of sponsorship/patronage model as the means to compensate bloggers. Very little progress has been made towards finding viable economic models because people still think of Weblogs as personal sites. If you aren’t Andrew Sullivan (who purportedly makes $6,000 per month on his site through donations), it’s hard to imagine how you’d get the traffic and donations to generate such revenue…. By paying great bloggers to produce Weblogs, we remove economic constraints and enable them to devote their energies full-time to producing compelling content and creating outstanding Weblogs.’

It's a salient obvservation of the quandry, professinal bloggers can find themselves in. However, I think it is correct to say that for any popular or successful site, monetisation can and should always follow. Why should a blog be any different? In media and advertising, eyeballs are the currency!