The real question is: "Do you want to make money or not?" The query was regards monetization so therefore all on this conversation are interested in making money. Which begs the second question: "Which is the best way to make money?"
And there we have many opinions, all valid, and all over the place! :)
I, too, have many opinions in that some of my sites work great with affiliate, some with Adsense, some with direct marketing (best of all and where I concentrate my work these days).