It now seems to be ok (legally) to share your Google adsense revenue.
Mark: "Since August 6, 2003, I have made $7915 from Google Adsense. My daily revenue peaked in April 2004 at about $18 per day and has been steadily declining ever since. Last month I averaged just under $9 per day. I have ads on Dive Into Python, Dive Into Accessibility, Dive Into OS X, and dive into mark."
I've made $3,641 since June 2003 - in 4,638,888 pageviews. Not bad. Most of that comes from ads on my Colombia forum. Very little from the ads on my blog, that I have turned on and off at different times.
What this means for working for yourself: ads on a blog won't get you much $$, unless you're a super A blogger and even then. Building a useful community site seems to work much better for generating ad revenue.