be very very very careful. I'd study the posts you'll find on this and other forums as well as some of the blogs written by developers relating their experiences. The TripChubby guy comes to mind, he came really clean about his business so far--burned through $65k in revenue and investments and was at the time of writing at break even. Check out his blog. With nearly 18,000 apps on the store today, the vast majority of which are games, you, like the rest of us will have to surmount two rather large mountains to succeed: visibility on the app store and competing against "free".
The right game and you're temporarily rich. And what might be the right game? Faux beers and electronic whoppie cushions have probably made as much money as Spore, so that tells you a bit about our customer demographic. Target the audience properly and you may have a hit!
I think that the general experience is that you'll wither and die unless you get featured on the store itself, and even then the run is likely to be short so get your money while you can and have ideas #2 and 3 and n ready to fire!
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