While I draw and photoshop only as a hobby (although I have done some work for my university to promote some shows,) I do think you can make some money from this. Consider Jim Hsieh, who sells his digital art for like $400 a pop - and I intend to by some once I get my own place out of college.
But I think a great way to go now is definitely digital - photoshopping with a wacom tablet. If you haven't seen any of the speed paintings on youtube, check out
YouTube - LOST - John Locke - Speed Painting by Nico Di Mattia or go to his site at
www.speed-painting.com. You could probably make some money affiliating some art supplies or from adsense. But those are just a few ideas.