I'd agree that the payout sucks. Doesn't mean you can't game the niche though.
There was an offer on NB awhile ago, I never got around to promoting it because I was too busy with other stuff, but it was a slick landing page, 3D games, pretty good payout, I think $3ish per lead.
So, I would have bid on some popular games, maybe built a review site about the games offered by the company, and probably would have banked.
You've also got the gamevance offers and stuff to look into. Ebay may be another way to go. There are social gaming site offers, netflix, all kinds of things to promote besides the games themselves.
I guess the moral of the story is just because a certain offer sucks doesn't mean the niche or the traffic sucks. Get inside your visitors heads. If they like video games they're probably interested in some of the offers that are out there. Try new things with the traffic.