Hi mtkang. My advice should help you decide as we run an agency that incorporates several API's into one site.
It's fairly easy to do affiliate stuff, but running your own website might require a bit more technical skills and a good hosting company if you take it seriously. Still, even that the tech side is a must, itself will not make you money until you're great in marketing and promotion. It's the same everywhere. You can have a perfect technology but if you're not smart in marketing (and believe me, a lot of ideas were invented already) you might just loose your money and time.
There are several agencies that were in your position 5 or more years ago. Some are still operating at a loss. Some are closed already. And I guess only a few of those made it to black numbers (positive cashflow).