Many people tried it or are still trying it but it is really not working these days because you cannot find much users willing to waste their times on faucets for earning just a few cents a day and watching thousands of ads in there.
I think that is not the best way to earn bitcoins. Because you must have good promoting strategy so that the people are going to know your faucet is a good faucet and once you are going to get a lot of visitors. Maybe 500-1k people daily before you are going to get good profit with your own faucet site with the advertisers.
if you have biggest luck, highest skill and of course inovation , open faucet like freebitcoin is the best choice.
i think freebitcoin get 5-10btc permonth from adsense