I wanted to monetize my blog and thought selling ad space would be a great way. I wasn't sure about pricing though. I summarized it here http://www.freefreebies.org/2008/01/advertise-here.html Do you think prices are reasonable considering the stats?
Another thing to keep in mind is that many advertisers are concerned with SEO value / PageRank. Your homepage is a PR2 - I don't have the time to scan your whole site, but try and feature any PR4 or PR5 pages you may have (or the highest value page you have), etc.