Ok, let me contribute my mite to this discussion. I have been an active member of Mylot for some time now, and here is what I noticed about it:

Advantages:
1. It is a great community out there, and you will find great friends.
2. If you post quality posts and upload images and if you have active referrals, you can really earn up to 60 - 100 dollars per month. Yup, you can! People are doing it. And thats not that bad either.
3. There is such a variety of discussions and they are so interesting that you can get hooked up easily.

Disadvantages:
1. It is slow to load.
2. The admin is a remote personality. Frankly, I dunno who is in charge of Mylot.
3. If you are into Mylot for money, you are making a big mistake. Be in it for money plus fun. You CAN'T make big money out of Mylot.