One of the most earning position in a blog is right below a post. See this 'heat map' from Google (taken from https://www.google.com/adsense/support/bin/answer.py?answer=43869):
See, Google also acknowledge that ads below a post is a good earning position. But the problem is, how to I position my ads like that? Simple, go to Dashboard > Layout and hit 'edit' on the 'Blog Posts' elements. Give a tick besides 'Show ads between posts'. Next, configure your ads layout, and after you are satisfied, hit 'Save'. OK, done and hope your income would double ^_^
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