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I think it is possible to make money selling stock but you have to be willing to submit lots and lots of images. You also have to find subject matter that people want/need. I know several people who make decent money selling stock, but they're pro photographers who use the client rejects from a photo shoot as stock.
Personally I sell a few images on iStock and to be quite honest it about pays for me to buy images that my clients need. So I guess really I'm not making money, its more of a trade system... but it serves the purpose I need.
I think the real key to making money with stock is the type of imagery you produce. For example iStock and similar sites are packed full of flowers and sunsets, but high concept imagery and things that are easy to incorporate into other projects are pretty scarce.
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