Confirmed. I make $100 per month with this exact formula on my blog, which I update about once every 2 months.
Just for reference, roughly how many people visit your blog per day?
1500-2000 visits per day. http://www.puremango.co.uk. I rank highly for some good terms like "hacking facebook" and "how to hack", but my long tail is also very long.
One of my smaller sites is like this. Five short pages, about 30 page views per day, and makes $100+/month. I haven't changed the content in a couple of years.
Have got another that makes 20-30x that and I spend no time on it.