Webdev,
Domain and hosting reselling is my #1 income source and the ultimatedomainresellers.com site should pretty much explain it all. You pay $69/year (or $169, depending on the reseller package) and they give you a reseller site that looks pretty much like GoDaddy's site except you can set your own prices and determine your profit etc. You earn commissions when your visitors buy domains and hosting and it's lucrative because you earn residuals on the hosting and domain renewals.
It's a great monetization solution for anyone who targets webmasters or soon-to-be webmasters.
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