I know that this answer might be kind of late but I just came across this question today and thought I might share my opinion. If you're still hanging in there with hubpages this is my answer...
I suspect that per-click you're gonna get a lot less money on hubpages than your blog. Hubpages acts as the middleman who needs to get his slice of the pie or money before we as hubbers get our money. I don't know this as a fact but I suspect this is how hubpages works. Combined with the amount of effort it takes to generate a consistent flow of traffic and money I would say it is difficult to make money on hubpages. However its still worth being a hubber.
If your goal is to make money quickly it will be frustrating but if money is not your motivating force it can be a great learning experience and eventually you will make some money.
It all depends on how you measure your success. I have been on here for a year but I gave up and ignored it for months because I didn't make money quick and I didn't have time. Now that I have some time to devote to it and I'm not focused on money, I am finding it to be a great learning experience. I think its helping me become a better writer while allowing me to implement inbound marketing/social media marketing tactics that I study.