Are MTT's good value?

[Top Pair Ace Kicker]

I have been playing purely MTT's for the last few days, but I am beginning to doubt if they are value for both the entry fee's they cost and the length of time they take.

I've played 6 and have managed the following results:
£11.00 staked - £30.00 banked - 14th place
£11.00 staked - £140.00 banked - 1st place
£11.00 staked - £0.00 returned - unplaced
£3.28 staked ($5.00) - £11.35 banked - 5th place
£12.01 staked ($20) - £47.16 banked - 6th place
£22.00 staked - £112.80 banked - position 6th

So thats just over £70.00 staked for a return of just over £340.00 which is about what I would have won if i had placed it all in a single STT and won it, and it would have taken a lot less time to do it!

Now admittedly I deliberately aim at MTT's with about 50-60 players rather than the 200-300 entries, with the exception of the top one in the list which shows why i usually dont bother. There were 300 entries and i battled all the way to 14th and picked up a miserly £20.00 profit. Now the winner won £840.00 whicch would be very nice, but in the end it really does become a crapshoot so you would have to be very lucky to win. (I actually got busted out in 14th when my KK got busted by AK when an Ace hit the river, but thats another story )

So should I keep going?
I mean lets be honest, I reckon these results have been pretty good, and I reckon the only way I will be going is down, with a few more no results, which would make the stakes/profits/time ratio even worse!

Has anyone have any figures or experiences to show if there are steady long term profits to be made in relation to the effort involved?

[Oinkment]

thats pretty good going.

I prefer MTT's as the return far outways the initial outlay. I play about 10-15 £2-5 tourneys on william hill a week and win enough to make it worthwhile. I try an play the ones with 150+ players so the first prize is at least £100-150.
Over the last 3 months, I have won 5 tourneys got 2nd 12 times and had numerous final tables with prizes ranging from £5 to £60.
I know what your saying if you been grinding it out for a measley return its well annoying. But when you do get a big win its all worth it i think.