Well that depends on mining hardware and electricity costs. But according to this it would still yield a profit even at 17$ a bitcoin! Try it!
$17/bitcoin yields a profit at 7M difficulty. But that doesn't factor in the hardware costs, right, only electrical costs? And profit of $0.0000000001 is really profit? Does that factor in the transaction costs for dwolla or mtgox? Is 'it is still profitable' a reasonable statement, with fees?
What about the investment in hardware?