I'm a newbie...on Saturday I found a CPA offer (a fairly common one, BTW), wrote a couple of ads, sent a few emails and made $70 for the day. I've made an additional $100 since with the same ads. I am pretty certain I used a twist that hasn't really been used, but it wasn't ingenious.
CL will be dead when either A) The site vanishes or B) Nobody uses it any longer. Until then, only the rules change and there will always be opportunity.
From reading some of these threads, I get the distinct feeling that when actual work and thought starts being necessary, marketers start dropping like flies. If CL was dead, a newbie like myself would not be able to make anything, yet I do and I know others do also.
BTW, I am still receiving leads from ads I put up Saturday...all my ads stuck.