Hey Club,
The answer is that it very much depends on the type of site / content / ads that you're going to be dealing with.
One of my websites attracts more than 1,000,000 uniques on a good month but because it is a broad entertainment site, we don't do amazingly well from Adsense.
However if you run a highly targeted website that operates in a niche sector, for a specific audience, then it should perform much better (both in terms of CTR and your Adsense commission).
It's really about being a part of the buying cycle, and figuring out the mindset of the average visitor.
My 1m+ uniques site focuses on news and gossip, so it's not really part of any customer journey. People are there to read a news story, not to research a product or service.
But if *your* website features lots of reviews, and operates in a specific sector (ideally one with high average order values and lots of online sales) then you should do much better.
As such your website will make more money that mine, from Adsense, all things remaining equal. Your 10,000 uniques might be worth more than my 1m, in Adsense terms.
Hope that helps.
Cheers,
Chris
PS - we're blogging about Adsense - link below.