Well there wasn't enough time for me to try it, but a blackhat friend of mine told me the following: He created 100 .co.cc domains all with autoblogs on them for a few months. He got a lot of traffic but not the earnings he expected. He just tried Adsense for domains and now he's earning a big amount of money through it daily. So it's well worth trying
You have to have traffic otherwise you aren't going to earn anything. Try out the software at http://www.simplifiedses.com if you are serious about wanting to send some traffic.
Basically if you have a domain that you think might be worth a few bucks down the road, then its ok, and in some cases it's way better than domain parking with a 3rd party