oooh crizap. bitcoinwisdom still has '50' listed in their litecoin profitability calculator. Second time that's happened to me. Guess it's only 340/month! 
You'd be wise to trust your own calculations for profitability.
Rented out, 315mh nets about $390 a month.
I was getting about .05BTC every 18-20 hours at nicehash with my 900-930 MH/s, which was much lower than mining straight LTC at litecoinpool. Which rental are you referring to?
Miningrigrentals. Always about 20% higher than nicehush.. Besides you got screwed if you are getting paid 30%+ less than you SHOuLD be even at nicehush.
ps. If he's running with 2 dies down from 4 cubes, he's not getting 350MH on a batch 1. Even overclocked..