SE traffic won't convert blogs any better just because it's "SE". The key is if the keywords match the content and is useful. For example, getting Google traffic for the names of performers likely won't do much, but for niche cam terms (assuming you have that content) will likely do a LOT better.
I've never had any blogs convert very well regardless of SE traffic, sponsor or content. It's a hard sell for most of us, and if you do well congrats - you're one of the few.
I'd guess that the content may be hurting you if it's just sponsor-provided posts. Surfers will reward effort, it's a known - but ignored - fact. If your blog is cookie-cutter and looks like no effort has been put into writing posts, adding anything meaningful or original, then likely the surfer won't "reward" you by taking your suggestion and visiting your sponsor.
So, posts like "this hot slut is ready to get fucked CLICK HERE TO SEE HER NOW!!!!" probably won't make the surfer very enthusiastic. How about trying a few manual, and insightful, posts that don't sound canned? If you see a chat host who has a really cute accent, or some talent, or whatever - write about it (as in, like you're actually endorsing something you know about!).
Try it and see what happens, I think you'll be surprised
