I bet most of you now must have heard of Text Link Ads by now but does it pay well or complement well with Adsense?
For my case, the answer is YES, although the amount is not much and each link that I managed to sell vary between $5 -$12.50/month, it's still a significant amount of income for a relatively low-traffic blog. Implementation wise, it's very easy for a Wordpress blog and vBulletin forums and doubts about whether it'll conflict with Google Adsense's adverts have been cleared.
Also, via my short experience with Text Link Ads and also through conversations with other webmasters it seems that there are certain ways to maximise your earnings from Text Link Ads:
1. For blogs with very specific topics e.g. SEOnoob with SEO, it is relatively easy to sell ads to advertisers and it seems that your Google PageRank (PR) and Alexa ranking (i.e. traffic volume) plays a huge factor in the price at which your link is sold at.
2. For personal blogs or blogs which cover a wide range of topics but has high traffic or loyal readers, I think it's best if you join the affiliate program, where you can earn US$25 for every referral you make!
So have fun blogging and good luck with your Text Link Ads adventure!