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I use TLA as well as sell links directly through forums.
TLA obviously takes the hassle out of managing links but your 50% of the revenue tends to work out slightly less than you can achieve through direct sales. eg if TLA sells a link on one of my sites for $50 then I would tend to sell the same directly for $30
Generally I insist on paypal subscription with direct sales which helps keep revenues consistent as well as making inventories easier to manage. A useful tip when using paypal subs and selling links on a number of sites is to list the site-purchaser userid-anchor text as the subscription title. eg domain-worlddom-keyword
Currently I earn around $500-600/month through TLA and around $1000/month through direct sales (this increases monthly). My philosophy is to sell 15 max outbounds per site/page and give the advertisers a good position, usually above the fold/within navigation. This tends to keep everyone happy and I have a number of long term clients.
A lot of my time is spent scannng forums buying and selling links, if anyone would like me to offer a service buying or selling on their behalf then pm me and we can work out a deal.
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