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For me it was way easier to get 100 uniques a day to a small site times 10 small sites than it ever was to get 10,000 uniques a day to 1 large site. Even with the multiples of 1,000 uniques per day to each small site compared to 100,000 uniques to a large one.
Filtered properly and being able to dynamically swap out links on the hundreds of small sites and you are way better off than the one big site.
Not to mention if the google gods get mad at my site then the damage varies greatly again on the number of sites you have. If your large site dropped a few pages in the SERPS you would freak and get hit hard. However if even 20% of your small sites get nailed you will hardly feel the hit.
Think for it to really work though is that you must put in some time daily building new sites, doing link management, etc. All the while keeping the big picture in focus and avoid freaking over the small blips. Keep building and thinking ahead, all the while being able to swap any link anywhere in your network of sites at any moment.
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