Single table five seater`s

I`v been chatting to a fellow poker player online,
and this is what we talked about.

It`s all to do with playing 5 seat single tables. If you play say, ten, 5 seat stt`s, with a buy in of say $5.00+$1.00 then thats going to cost you $60.00 in buy ins. (these are the buy ins on ladbrokes by the way) So with the top 2 places paid at $17.50 and $7.50 , you would need to finish in the top 2 at least 50% of the time just to make a tiny profit. For example 3 firsts and 2 seconds out of ten games, would earn you $67.50 and in my opinion that is a pretty good result no matter how good you are. So your profit would be $7.50 for about 5 or 6 hours work, as it would take you this long to play 10 games, give or take. So i think that really 5 seat games are a bit of a waste of time. I`ll have to have a think about 10 seaters and multi tables as my brain hurts. but i`v got a feeling cash games are the way to make money.
What do you think? Post a comment and let me know your opinion.