My niche: iPad!
Traffic source: DirectCPV URL Targeting
Budget: $200
My setup: I'm going to build 1 landing page format and do a taguchi multivariate test (matrix to be determined later).
Tracking: SplitTestAccelerator for the MVT. I may also use CPVLab to learn how it works.
Networks: KonceptAds
Tools: I build everything using Photoshop and Dreamweaver. For project management, I use AgileZen.com.
I'll do a daily update starting tomorrow.
You go girlfriend!
If you have trouble spending the $200 on DirectCPV you may want to try Lead Impact instead... DCPV's traffic has been way down lately.
Day 0 Report (Monday, June 20):
Created landing page. Used the simple voting template that Stackman shared as the base.
http://stmforum.com/forum/showthread...-HTML-included)
Created three title variations, three sub-title variations, and three different pictures for both the left and right side.
The title variations were:
Nice work man!
Day 1 Report
Logged in. Landing page wasn't approved yet by DirectCPV.
Took my kids to swimming lessons and had lunch with a friend.
Landing page got approved. Realized I set up a KEYWORD campaign. DOH!
Created an additional campaign and actually used URLs this time. :-)
Results -
$20 spend - 19 clicks from 1329 impressions . . . 0 conversions.
All clicks came from Amazon.com. Hmm . . . Maybe shouldn't have trimmed to root.
I paused the Amazon.com URL and worked on harvesting more domains.
Initial results from MVT - The picture of Hillary Clinton drives a 3.6% click-through, compared to Donald Trump (2.8%) and Bill Gates (2.3%).
Ouch amazon.com has gotta hurt for an email submit!
Could I recommend you make two separate campaigns.
1. Based around targets of the people you are using on your lander e.g Steve Jobs, apple, mac, iPods, bill gates, microsoft, windows.
2. Based around rich lists, forbes etc
Double ouch today!
Burned through another $20 continuing LP test with different iPad offer. This time, I sent 25% straight through to the offer, and the other 75% through the LP.
Except . . .
n00b Key Learning: Always re-test your cloaked file. Even if you make a "minor" change (like changing the offer link!).
okay, it is kind of funny. I just sent 400 people to a blank screen. 
Next steps . . . spend another $20 tonight doing it right!
(I just need to remember to set my campaign cap back down to $20)
Tomorrow . . . take some time to do do more targeted URL campaigns.
I started messing around with CPVLab today.
n00b Key Learning:
Don't lose your CPVLab password!
Sure, I could have asked BeyondHosting to reset it for me. (But, that would have been like asking for directions.)
Since I'm clever, I tried to modify the PHP database. (Totally frigged it up.)
So I tried to re-install CPVLab without reading the manual. (Fail)
Tried again to re-install browsing the manual. (Fail)
Third time . . . I actually FOLLOWED the directions in the manual. SUCCESS!!
The Real Key Learning: I need to stop trying to be so clever.
(At least I wrote down my password this time.) :-)
I guess it's time to do my final report.
Spent - $150
Revenue - $8
Although . . . I purposely decided this project was not about making money. Rather than optimizing a campaign to profitability, I did 6 campaigns of $25 each, all with a different learning objective.
Here's how this $150 noob exercise benefited me.
I learned how to:
1) Run a Keyword, URL, and yes, even a RON campaign on DirectCPV.
2) Quickly create new landers and set them up for multivariate analysis
3) Optimize landers for speed
4) Use CPVLab to rotate landers and offers
All in all, I'm very happy with the exercise, and now plan to focus on one vertical. This time . . . with the objective of making a 25-50% ROI. :-)
Thanks for all the useful information that has been posted. This forum is a godsend!