Re: Anyone run a site purely for advertising?
I don't run a site for advertising purposes, but I have run and developed many sites and still operate a couple of fairly busy sites. I think it depends on a couple of things. Why are people going to come to your site? It is WAY more difficult to get people to visit a site than most realize. The competition to get people to a particular site is fierce. You have to be very unique in what you offer and do an excellent job of presenting it. Secondly, if you are able to put together a site that can garner lots of traffic, what do you intend on advertising? Is it just general banner/link ads or is it something more specific where you're going to seek out advertising clients? I realize this doesn't really answer your questions, but I'm simply trying to get you to think about a couple of these things since I've had several people talk to me about doing something similar.
I would visit some similar busy sites ( as what you want ) and see what ads they run, decipher why people visit their site over others, and do some solid research on how much it costs to run a busy server. It can be expensive and time consuming if you do it all yourself, but it's possible to do it successfully.
Best of luck with it!