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I've learned that your site, content and visitors will dictate whether Adsense or Affiliate programs work best. It varies from site to site, so you really need to understand the type of site you're putting together, the content you'll be creating for it and the type of visitors that will be coming thru. It's best to design your site for both, but after awhile, you'll see which program's bringing in the most money and you can adjust the site at that point.
For example, I'm aware of a site that gets 2000 visitors per month but hardly makes any money. There's also a site that receives about 600 visitors a month and it brings in about 5x the income with Adsense. So you really have to look at more than just the amount of traffic that you'll be getting.
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