Has anyone actually monetised own site?

Serious question - so far we have been in an endless development cycle and will end up scrapping it due to theme limitations.

Are there any success stories?

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Don’t give up!! We are almost there! I worked too hard to scrap it and start again for my client. I created a way to develop it without it costing my client. We invited a few key people we know to be sponsors at an introductory price so she could pay me. So we have monetised it, and once we sort out our Woo.com and a Google Maps issue, she will be happy to start selling subscriptions and upselling the free listings to annual directory subscriptions.

I hope this is encouraging for you.