Concerning Adsense: You really need some considerable traffic to make money with Adsense. I recommend affiliate-banners which are related to your topic (commission junction) and intext ads (but some providers want a minimum amount of traffic on your site before alowing that).
If you use Google Adsense, make sure you use the right banner formats (basically the 336x280 above the content works best) and just use text ads, no image-adds.
Another good way to make money with blogs is to sell links inside your blog posts.
But of course Google does not like it, its against the Google rules for Webmasters and I woul only recommend it for small side-projects, not for projects you really depend on. And only do it for sites which are related to your topic.
You have a variety of options for ads on your blog, but all of them require you to have a reasonable amount of traffic before you can earn much at all. I've reviewed most the options on AdBalance (see sig), but a quick outline would be...
You can try traditional graphical CPM/CPC ad networks like Casale Media, ValueClick Media, Tribal Fusion, CPX Inteactive or numerous others for leaderboard/skyscraper/rectangle/pops - they target your site by general niches rather than on a page by page basis.
You can try AdSense to match the text content on your site with advertisers meaning that the ads should be quite well targeted. Chitika also does some ad matching to things such as the search keywords a user entered to find your site and can work well.
Another option would be affiliate (CPA/CPS) offers where you earn for each time a user clicks through from your site and either purchases something from the advertisers or fills in a survey or a similar action. Here you can make use of Affiliate networks like CJ, TradeDoubler, Epic Network amongst others - find the companies you think would be useful to you readers, and then promote those offers.
Lastly, you can choose to sell links on your site. Google frowns on this practice and it can result in your losing some PR, but it can be relatively lucrative so make your decision wisely. Text-Link-Ads are probably the most well known network to offer these links, but LinkWorth may also be worth a look.
Everyone has different successes and failures so no-one can tell you for sure what will or won't work for you - it is all a little down to trial and error.