Having used Squidoo quite a bit I've found that it can actually be good for driving long term traffic. The trick is targetting high traffic keyword terms on your lens that are not too competitive - just like you should often do when creating posts for your own site. Admittedly we are not talking huge traffic here that click through to your main site - but it is still good well targeted traffic and this built in with the fact you can monetize your lens and build SEO friendly links to your site makes Squidoo very attractive. Hint: Squidoo is ranking very well in Yahoo. How have others got on?
I agree that Squidoo is good for driving traffic. If you create a lens that has a very specific focus and tag it well you will get high quality traffic. Obviously you want as many visitors as you can get but the more targeted your traffic is the higher your sales will be. The Squidoo lens visitor stats are a very helpful tool in this regard. They show you exactly what search terms brought visitors to your lens and how many people used each one. You also get valuable data about clickouts and referrers. From this you can refine your tags and links to further enhance your targeting of traffic.
excuse me for being uninitiated here, but what exactly is squidoo, and why is it better than adwords?
It's not better than adwords, it's different. See http://best.website.ever.com/ for some information about Squidoo.
I like squidoo too. still in the process to get make good use of them. and I agree using SE traffic and present it with a well put lens you can earn some good income.