This depends on the number of clicks. The important thing to understand with faucets is that they are seen as being a content-less site. Many faucets have been banned from AdSense. And even if you aren't, you can be banned when it's time to be paid. So generally speaking, I'd suggest relying on other ad networks.

You can definitely make some money from them with marketing and such, as long as you're getting ad clicks.

I wouldn't rely on them being super profitable, though, and look more for either a slight profit or a break-even. They are just too risky.

As a heads-up, though, if you start one up (or anyone else), feel free to toss me a PM and I can add it to the rotation.