Yes it does work if you offer something of value and its not just a rubbish site also throw in some original content for good measure In saying that Google is starting to come done on these maybe better of creating amazon review sites
I'm not a big fan of autoblogs. They tend to be little more than spam farms and tend to clutter-up the SERPs. I know that some people make a good living from them but most who try it fail miserably. As Google gets better and better at identifying autoblogs, the technique will become more and more pointless. YMMV Best, --JR
I have a few autoblogs, but they only generates about $5 daily on each site. The good thing is I only promoted it in the first few weeks and I don't have to do anything or promotion to the sites anymore.
Waste of time in my opinion. Sure, maybe a few people have REAL success with them but you'd be better off with other methods.