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Certainly possible if you have a big enough budget, what David said about ROI is certainly correct, the bigger you get the less profit there will be to take out.
Programs can not do it all, affilates can reach out and get more traffic to your program than you can by yourself. If your buying traffic that takes time, staff and big expenses. So weather your paying affilates $25 for a join or if your paying Google $20 for a join and spending $5 in staff to get that join it could work out pretty similar in the long run.
Of course i'm talking big numbers here I know buying smaller targeted traffic PPC etc can be alot more profitable without the expense, but if your talking big traffic/sales then staff, servers, offices and buying the traffic all costs ALOT.
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