A WebmasterWorld thread has Google AdSense publishers talking about how feasible it is these days to make a full time income from Google AdSense.
Yes, there are many individuals as well as companies that make most, if not all, of their money with Google AdSense. The issue is, some publishers are complaining it is not as easy as it once was to keep that income coming in. With Panda out and still paying a huge toll on many sites - bringing in easy money with AdSense is much harder these days.
So you have to work at it, and when you work at it, can you bring in a full time income from Google AdSense?
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Forum discussion at WebmasterWorld.