Thanks we have tried Casale and Tribal Fusion- but they do not do as well as Adsense - and the quality of the ads were very poor. (seizure inducing, flashing crap). I would like to try CPM ads again- but so far , all the networks seem to be regurgitating the same cheap ads. If anyone has a tip on a quality CPM provider - love to hear it.
We have dabbled in subscriptions- but it has not not been a big money maker for us to to date. We use paypal, and people seem to cancel the subscription after the second or third month. Perhaps what we are offering is not compelling enough.
Maybe you could make a paid dating site component, you already have kiddies (or whatever your target age group is) socializing on there.
I think $0.53 CPM is as good as you can expect from a social networking site. You might want to consider shopping the site around, the sector should be in a frenzy around the time Facebook gets bought (if it does).