I am now coming to a conclusion that you have more chances of making more money from clickbank products especially the membership products that offer recurring commissions. The most obvious reason for choosing recurring commission products is that you will continue to get the commissions everytime the customer is rebilled. You cannot do that with google adsense.
Another drawback for google adsense is that in case of your account being banned then you will be in deep deep problems. If Clickbank bans your account you can easily replace it with equally beneficial affiliate products from clickbank competitors. It is not wise to put all your eggs in one basket. If you use adsense combine it with affiliate marketing products so that if anything happens it will not be the end of the world for you.
I am however open to differing opinions to my current position. Lets discuss!