Sgt_Kickaxe - 2:27 am on Oct 27, 2010 (gmt 0)
Another tip, the flip side of the comment above: Take a good long look at where your traffic comes from. If it's Google, how much do you trust Google to continue sending that traffic? As you can see being #1 for any keyword now often means being as low as or even below the fold. Your site is only worth as much as the traffic your keywords command if free search is your primary source of traffic.
Since you mentioned 5-6 times current annual profit that equates to 5-6 years pay in the bank now. I wouldn't trust Google to continue sending the same level of traffic that far into the future and I'm quite certain you could rebuild in that timeframe, unless you sign a no-compete contract that prevents you from doing so of course.
If you don't change your spending habits you have more than enough time to rebuild imo. At 5-6 years profits I'd take the money UNLESS I think this site is likely to expand exponentially or allow me to leverage another idea that will.