I recommend testing. One method might work better to some than others. Some sites might easily use several ads, while others might do fine just few ones.
I personally think there can be many ads on the site (I have several google ads, adbrite, sponsors, banner ad, another smaller ad) in my site. But... if you check out my site, you can see that they fit quite nicely with the rest of the site - at least in my opinion  . Some of the ads are located after the main text, one is in the end and so on.
I'm making few hundreds per month with my ads. Best one being text link ads.
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