You are correct in the risk taking being part of the game. I took a deal like this for 1% on a project in Dallas. Trouble only came when the client and his attorneys realized they owed this guy, who was 'just a web master', more than $70K in commission 2nd year - it was less expensive to pay the attorneys $35K to settle me out after a 2 year fight, with a small bag of milk bones. Even though I still throw my hat in the ring when a project like this looks promising, I think the web guy takes the see more biggest risk of all and usually earns the least in the long run.