Amanda Hocking has been all over my publishing blogs lately. She's a 20-something phenom raking in mucho bucks for her self-published vampire novels. Success stories like hers and JA Konrath's (whose blog is a must read if you have any interest at all in the future of publishing) make self-publishing seem very tempting...very tempting, indeed.
I haven't read any of her work (I don't have an e-reader, though Matt just bought and hacked a Nook Color), but the general consensus seems to be that she's not the best writer. The other general consensus is that, her audience doesn't particularly care. I liked Novelr's take on the whole matter.
People are buying Amanda Hocking ebooks because they’re cheap, they’re easy, and they’re good enough to read. And that’s the metric that matters, really, because that’s how disruption works: it almost always begins with ‘good enough.‘