I have to admit I do not know Million Dollar Homepage... However it's an interesting concept, but ya know it has a PR of 7 so nothing wrong with that end...
However if you have noticed that the math works out like this if you want one of those tiny blocks which is 10x10 pixels thats 100pixels you have to buy and that's going to run you $100.00, but I'm sure you know what that's all about.
So lets look at the case study... Compare when this guy bought his spot and when they started having a massive growth of ads added. So there wasn't the junk and a lot easier to find something worth clicking on.
Speaking of being worth clicking on, come on does anyone really need anything from the links or advertisers listed on that page?
"The case study" if you go to their site what is the sites call to action or hook for getting me to call or email them? The claim the sales but what are they selling they have a 3 page website, perhaps I'm missing something! There more recent stats for Sept & October Show a sharp drop in traffic the end of Oct when the site really took off... So I think the case study is true however unless you buy a big space don't expect a lot.