Baaf1,
I believe that experimentation doesn't hurt as long as you test, test, and test some more. If you truly believe that you can improve your profit margin by adding some additional merchants to your websites, then do so. If there's a drop in your overall monthly income, then revert to your previous structure.
One other thing you can do is simply duplicate the process with another website. Create a website for the sole purpose of marketing multiple merchant's products and get traffic to this new website and see how your results fair.
~ Teli
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