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That of course heavily depends on the ad setup, the GEO structure of your traffic, and what the user experience is on the site.
A site with poor user experience and an ad overload will do best with CPM or networks that accept lower standards among its publishers, don't expect too much though since that traffic won't be nearly as much productive / worth paying high rates for. That's why the rates and payouts are in general going down.
There's another way to do it, aka care for the user, not using blind redirects or annoying ads, place the ads right - and make good returns on CPC basis.
If you'd like me to take a look and see if your site could work well with an under the counter solution that's on the market for 7 years now, feel free to contact me - skp: carlosprague or email in sig. Could even give you an estimate on earnings if knowing some basic data.
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