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In my experiences with stock, if you have some good photos and can get accepted onto one of the big sites you will make some sales. Yes there are millions of images already on stock libraries but styles and markets change, people want up to date photos of places and new photos of people. Your work needs to be at least as good or more original than the thousands of other images of the same thing though!
Selling prints online is difficult with so much competition unless you can generate customer in the real world. Exhibitions are better and more fun! Covering events, giving out leaflets for your website and uploading the pictures to a website where people can buy prints has probably been my most consistent way of making money from photography though.
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