I would like to thank everyone who has put time aside to make their fantastic posts, all of this is a gold mine. I would also like to thank crabfoot with his brilliant post in "what do newbies really want" (I didn't want to spam the thread thanking him) it has helped me a lot and is a great motivator.
In regard to cash Ninjas post.
I have tried doing what you said (my bin is full of screwed up paper) and it seems my interests are very common with every single angle pretty much taken. I also do not have much money to spare for investment, so this limits me to affiliate/adsense. But thanks for your post and I will carry on trying to think of new spin offs for my interests/knowledge.
For niche research I have a quick question. When searching keywords (I am using google keyword tool) around what number for keywords is the monthly traffic too low? This may sound more like a common sense question, but from some posts I have read it sounds like people are making good money from very low keyword traffic. At the moment with my newbie knowledge, <10,000 is too low.