I think it would depend very much on how you're monetizing your site. If it's CPA deals and the like you're probably not going to get much benefit from Chinese traffic. If it's cpm deals then it might get you some cash to get a prominent placement in baidu. But even then, will low quality traffic annoy your advertisers and reduce their propensity to buy space?
Personally if baidu's costing you money and you're not targeting the Chinese market I'd have little hesitation in blocking them.
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