I'd just sell as many text links as possible lol and also try to do my best at mainting or improving the pagerank.
As I said before, it is probably an ephemeral rank, I have seen many friends of mine knocking their head against the wall after planning what to do with PR10 domains or so, which later went back to PR1 or PR2 after Google's adjusting.
I'd only sell a couple of text links to compensate for hosting, but i'd primarily use it to leverage my other websites to a higher PR. These websites would generate income through the sale of a product or service that's far greater then the revenue from text link sales. Why sell half dozen text links for $200/mo when you could sell hundreds of products per month worth $499.00 per sale?
its quite simple actually. the hard part is just finding "your" way to do it. all you need to do is develop a way for people to WANT to spread your link rather then you having to do it manually non stop 24/7 even paying money to do so... perfect example? digg.com everybody wants their article or site dugg so they post their link everywhere. they have soooo many backlinks and became pr8 in such a short time.
I would sell 10 text links at $500 a month. Sell a product for $200 a month (I would probably sell 1,000 a month. Build a mailing list and send affiliate links to them. In general I could probably make $50,000 a month at minimum.
Lets make it realistic. I would sell 10 Links @ $5,000 pm. = $50,000. Adsense with a ctr of 3% and 30,000,000 pv at $0.10 a click = $90,000 $27 product with a 2% conversion rate at 60,000 a day = $874,000 That is the very least I would do. I didn't even touch on affiliate marketing. So at total I could make $1,014,000.00 a month.