Well my thoughts are that Google will always develop new algorithms and thus there will be new ways to get high quality backlinks. Backlinks can be a problem but if you use some black hat techniques along with white hat techniques. There is will be away to overcome it.
I think a 1% conversion is average. A 2% is good depending on the offers and 3% is the best. It all depends on the offer and how good the copyrighting is.
I learned from many people and have different sources. The biggest source was from the Google Sniper product. Now I am using Alex Goad comission payload.
Its not dead but google adwords is getting harder and harder. Google is slapping campaigns up and making it harder for affiliates. But we still make good money using different search engines.
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