Great newbie tip into autoblogging. If you search around, there is a plugin for wordpress that will re-write your posts on the fly. Your posts are the original, but when the page loads the plugin re-writes the page on the fly. So when the Gbot pulls your page and sees the source, it is different everytime. So it looks like you update often, and the bot will come to your site more.
The point of auto blogging is traffic. With enough posts, and a good niche (not too saturated) you can get some good traffic. What you do with that traffic is up to you. Put some relevant ads on it, adsense, popup ads, whatever. You can even make a short post about say "product x" and modify the source of your theme so it is the first thing shown before your posts. Have it be an affiliate link, and grab some extra cash off the offer
Think up micro niches like "home gardening" or something, auto blog it. Work on some back links, and shortly you will start getting some traffic. Add some Adsense, and an affiliate link to some gardening affiliate offer, and cash in

Home gardening is just an example lol. Auto blogging isn't overnight traffic. You have to get enough posts blogged to grab enough keywords, get the Gbot to your site to get indexed and crawled often, and have decently unique content updated fairly often. Within a few months you should get a PR and grab some traffic. How much depends on your niche. Some niches you might get like 10 hits a day, others may be 500, it just depends. Thats why autobloggers run tons of blogs for different niches.