There is a thread at WebmasterWorld named What is your greatest Adsense advice?. In that thread there are many great tips; including:

- Put the ads in prominent places
- Blend the ads into your copy, as if they were part of your copy
- Read the program policies and the terms and conditions
- Don't bury it at the bottom of the page like it's an apology or footnote
- Let the visitors do the clicking
- Do well with site content, high traffic and repeat visitors
- Experiment with banner styles, placement and various pages within the site
- Don't sit and watch your AdSense stats, they will tend to fluctuate from day to day, so think long term
- Have good SEO'd pages (that is what helps serve up relevant ads)
- Use the earnings to invest onto your site

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