Hi, Daisymae...
Yes, you can make great money with a Domain Reseller account. But, you have to work at it, as well.
If you are a web designer or developer, an ISP, or an Search Engine Optimization Pro, I would think that this would actually be quite an easy thing to add to your current line of services and/or products.
I am also a Wild West Domains Super Reseller. I run
DomainHostmaster.com using my instant reseller store and I resell WWD Basic and Pro reseller accounts (for less than WWD offers them) through my
w3DN.com site.
As charly says, the expense may be a little steep for some, however, I have found that if you grab a really good reseller Domain Name (or a few), you should be able to be making a profit within your first year.
If you are a Domainer, the savings over your retail prices for Domains and Hosting, as well as all the other site tools, can be incredible and well worth the annual fee. When you add the fact that you can also resell Merchant Accounts which also can provide a substantial reoccuring revenue stream from your e-commerce clientele, the WWD plan shines.
However, if you simply want to get your feet wet, I would like to recomend that you try a simple and yet very effective program available for free through
HDWebHosting.com. Here, you can compete effectively as a web hosting reseller, allowing your clientele great and full-featured shared web hosting solutions that come with a Domain and Site Studio (website builder) both for free as a part of the web hosting account.
While you can setup an account that you could sign-up for at
HDWebHosting.com as a Domain Name Sales Reseller site, these plans are primarily for reselling web hosting and lack the complete and advanced Domain Manager that most Domainers would require. But It is great for hosting and these Linux Apache accounts offer more features than is available from Wild West Domain's shared Linux web hosting plans.
As I am primarily spending a great deal of time in Domainer forums and bulletin boards, I try to keep my prices at my WWD and HDWebHosting reseller stores as absolutely low as I possibly can. Domainers, Designers and Webmasters know what Domains and Internet Services cost and aren't about to pay too much to line a reseller's pockets.
However, it is always possible that if you are marketing to the end-using consumer, that you can easily increase your sales traffic with effective PPC marketing campaigns through Google (Adwords), Overture (owned by Yahoo), Kanoodle or some other online advertising method. This would allow you to charge more for your services to recoup your advertising costs.
I and some freinds are currently exploring this opportunity. We believe that by offering domains at reasonable prices (say $9.95 to $12.95/year) we can take advantage of other advanced features of running a Wild West Domains Reseller Store, by allowing affiliates to sign-up and support us, generating commission checks for themselves. At the same time, we can do some real PPC advertising (instead of simply posting our links for free).
If you have any questions, feel free to PM me.

-Doug