Some hubbers like sunforged, lissie and nelle hoxie make an excellent living on HubPages through adsense, ebay and amazon, but they work hard at it!
The advantage of HubPages is that your articles will get indexed quickly by google and can reach number 1 in the search results very quickly, hence more traffic and more adsense clicks. It takes a great deal longer to achieve this with your own website or blog.
Adsense can be a good earner if you choose the right keywords and write on topics where the ads will be a high cost per click.
Another good thing about hubpages is that once your articles are written they can keep earning for you indefinitely if you write on evergreen topics.
Good luck and get writing!