HarveyJ
He is - THE CACTUS!
Don't discount junkmail. I made some serious bank off of it when I was at Uni, hitting up the dorm mailboxes at various campuses.Sounds like a bad ass idea Aequitas. I'm sure you're promoting something with a $10+ payout and not some $1.50 zip submit, otherwise those numbers will probably work against you. Please keep the thread updated, I'm itching to try this shit myself.
Of course, my costs were pretty much only time & effort, because I'd found out one of the codes that the Journalism department used for their photocopier budget (suuuweeet free colour copies! Although it probably does explain the drop in quality of handouts at the end of that semester for my PR subject).
Anyway, I got about a 2.5%-3% conversion rate on an offer that was paying out $32.50, and over the 2,000 or so students that lived at the dorms, it worked quite nicely for what was maybe a full day's work.