I have to agree with sharpgambler. In the long run, quality content and white hat SEO will always win. These sites climb slower than black hat SEO sites, but when Black hats are long gone and buried, quality sites are still climbing and making more money all the time.
In the long run, black hat is also infinitely more work than white hat SEO, In white hat you create a solid source of information, once. In black hat you need to constantly learn new tricks and make site after site after site to stay in business at all.
You may think black hat is easier and more profitable – but if you want to make real money for a long time without having to reinvent the wheel all the time, white hat is better any day.