I've been watching this topic fairly closely and it's been interesting listening to the variety of differences in opinions with regard to Adsense earnings.
I can only comment on my own experiences of this year to date and in my case my earnings have increased every month since March when I got serious about working with Adsense. I hit my original goal last month (one month early) and have now set a new goal for Christmas or December. I have a lot of work to do to be abe to attain the new goal but that's why they call them goals :)
I don't think Adsense is dead but I think it has evolved. Watching all of the comments of people being banned and sites being de-indexed, just says to me that they are enforcing the rules that have been in place for a long time. I think it's made many of us a bit paranoid but that's ok, it will keep us on our toes and honest.
Adsense Dead? No...Adsense evolving? Absolutely!
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