loosing precious dollars in the process …
I am always amazed that many newer affiliates will keep their
links for months sometimes years even though they are making
zero or close to zero money .
so true. shoot its not just the newbies. I talk to a lot of experienced webmasters who when asked how they’re doing with a program, will say something like, they’ve been dogs for years.
And I’m one of the guilty. I can’t believe I kept Focal point’s banners on my sites for so long. I can even now show you stats that would insult a half-wit. which doesn’t speak too well for me now does it? 
anyway, I never kept them in any prime spots after it became apparent they were worthless for my cause. But even the casinos you keep on your “back pages” should be weeded periodically and I’ll tell you when that is for me: my rule is when I check stats and see a bad or non-existent bottom line; and instead of thinking to myself; well its early in the game, or they better pick it up soon: I start looking at the 50 or 60 hits that somehow found their way to the back to click on that banner – and I am thinking well there’s 50 or 60 hits I just might as well have sent to Arkyt, (at least he’d have thanked me)
… that its time to take them down. in other words, when you look at their banner and feel stupid for having it there; take the hint!
Now I need to print that out and paste it on the end of my nose.