I guess we'll see, but if there wasn't any profit to be made, asicminer wouldn't be planning a 200 TH deployment to come some time after their upcoming 50TH deployment.
There's plenty of profit to be made...and ASICMiner and Avalon investors are making it. BFL...who knows what's really going on over there, but their investors are getting hosed and there's no end in sight. They've even stopped giving out fairy tale shipping dates.
It's a mistake to compare BFL or their vaporware products to the products of either legit ASIC mining hardware vendors. BFL could fall apart or be shut down at any time just like BTCFPGA did. Eventually you have to deliver.