Or in YouTube producer Michael Buckley’s case, you can quit your day job and get a dream job. Buckley quit his job as a music promoter after earning $100,000 from YouTube ads on his a thrice-a-week giddy celebrity rant What The Buck? (video embedded after the jump), he tells NYT. Since he first started posting clips of his cable access show on YouTube two years ago, Buckley has garnered 100,000 views and over 300,000 subscribers.  Thanks to his sudden fame from YouTube, HBO signed him to a development deal three months ago.

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—Pipe dream: But before you start setting up your video camera, Buckley’s happy ending will likely remain nothing more than a pipe dream for all but a precious few. As NYT mentions, YouTube’s ad sharing program is limited to only about 3 percent of its clips, as advertisers remain wary of attaching their brands to user-gen.

—No silver bullet: And even YouTube itself is still having a tough time figuring out its ad strategy. After raising hopes that ad overlays might be the best way to appeal to advertisers and viewers, the Google (NSDQ: GOOG) subsidiary has dropped the idea of a “silver bullet” this fall. Since then, it has been using a mix of overlays, pre-rolls and even post-rolls. On the audience growth front, YouTube is also facing strong challenges from the likes of Hulu. AdAge, looking at recent comScore (NSDQ: SCOR) numbers finds YouTube’s glass half-full, noting that October video views rose 6.5 percent over July’s numbers to nearly 5.4 billion views. Meanwhile, YouTube’s share of the video category is down almost 10 percent over the same time period.