Will participating in AdSense revenue sharing sites kill our own blog?

i don't think so. In fact, you should use adsense revenue sharing sites like hubpages to your advantage to promote your own blogs. Some of the topics that you have in your blogs can be discussed here in Hubpages with links to your own hubPages.

HubPages have high ranking in Google / Bing / Yahoo search engines. If you are successfully in bring more traffic to your blogs than you can avoid HUBPAGES. But If have limited traffics or hits, then you should use Hubpages along your own blogs.

I think, I have answered your question to your satisfication. If yes, then please do rate my answer UP. thanks