Is Sign Spinning effective advertising?

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I found myself wondering today, as I drove past an obviously overheated sign spinner, peddling the China Wok on Eau Gallie Blvd, "Does this actually bring in any business??".  The poor sign spinner was ducking under a shade tree, on the side of Eau Gallie Blvd...not really spinning the sign, but kind of holding it.  I think she was about to fall over from heat stroke.  Ok, maybe not really, but she did look really overheated!  Obviously, there is nobody holding a gun to her head to make her hold this sign up, and she is working, earning a paycheck for her services.  However, is this type of advertising cost effective for a business?  I do believe it does draw attention, but does it draw the right kind of attention?

Case in point...there is a Smoke Shop on A1A up in Satellite Beach.  This business is known for putting girls in teenie weenie bikinis out on the side of A1A with their sign advertising the store.  While I do think that this is VERY clever, and will probably draw in a host of middle-aged perverts, I highly doubt that those middle-aged perverts are going to buy anything that looks like a bong, but being marketed as a hookah pipe.  Jus' sayin'...

So, let's say that these businesses have somebody spinning signs on the side of the road for only 5 days a week, 8 hours per day.  If this person is making federal minimum wage at $7.25 per hour, that's $290 each week the business is shelling out in payroll for advertising.  Would that money be better spent on internet and/or print advertising?  Perhaps investing that money into a decent website and some SEO marketing?  I did a google search of this China Wok restaurant, and lo and behold...they have NO website!

This seems to be the case for many privately owned businesses in my local area.  From hair salons to restaurants to gift shops...these places are spending money on the WRONG kinds of advertising.  At least with a website you can get user statistics back on it to see if people are looking at it and finding out about your business?  Not a sermon...just a thought!