#1 on google search...now what?

Your keyword obviously doesn't get that much traffic or you wouldn't get ranked #1 in a matter of days.

Like others have said mate, expand on your site with other related keywords now. Try find a product you can promote with them ie. Clickbank and get accepted into a CPA network. Just keep building and ranking those keywords eventually it will pay off if you keep at it. Oh and good luck!

firstly, goto statcounter.com and install that. See how many visits you are getting per day. If you are not getting any traffic then it dont matter if you are number 1 for that keyword as nobody is searching it :/

Since you are starting out with adsense, you most likely did what most people do when they first start and clicked one of your own ads. This may be the reason why they have taken the $3 away from you.

I rank number one also for many keywords, but I don't see how this converts to money. My analytics still records low traffic

What niche are you using? And most of all check where your traffic is coming from? Last but not least try to expand your site with unique keywords.