PPC advertising is, by far, the most effective advertising venue on the Internet. And you're right, it's time consuming at first.
Though it's more expensive per click, Overture/Google Adwords are well worth it. I'm not kidding when I say I'd rather have one click from Yahoo/AOL/Earthlink than 20 from the 2nd tier PPC search engines. But the 2nd/3rd tier PPC search engines have their place also. I think they are a great resource for those new to the PPC scence, as you won't have to invest as much money to find out what works for your niche'. Once you find out what works, take it to the next level, Google Adwords and Overture/Yahoo.
No, it's not easy and initially it's not cheap. When you actually figure it out, the cost is ZERO. It'll actually be like sticking one coin in a slot machine and getting 4 back, EVERY TIME. And so the more you put in, the more you get back.
I don't look at legitimate PPC advertising as an expense, but rather an investment, and a very good investment at that.
Good Luck!
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