tangor - 5:58 am on Sep 13, 2010 (gmt 0)
This is a tough one... Folks sometimes start up websites with high expectations of "getting rich" and the real world just does not work that way.
However, if your costs exceeded your income, then yes, it is time to cut loses and move on.
SOME folks can make a living from google ads, but the VAST majority do not. If google covers operation costs, then go from there. Anything above that is money to either reinvest in the site or put in the bank.
If you did not retain a copy of the website before shutting it down then you'll either have to go back to the developer and get a copy (and pay for it most likely) or start over from scratch.
There are viable host solutions in the less than $100/yr cost which are generally suitable for beginning a web business, and there are many coders/developers that will do a turn key generic site for less than $1,000. After that you'll have to get your hands dirty and update/maintain the site to grow it into profitability.