My personal opinion is that you should not really worry too much about what the banner is making you (it will make some money) but think of it as more of a brand association with your web site. Make sure the banner is relative to the content on your web site and you should see a few more sales come through from it. And as the guys say..... get a cpc deal in there.
As for setting a base payment/ fixed cost tenancy... I wouldn't have a recommendation as I see pay4performace as the way forward.
Cheers
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