Number One, you could become a professional Twitter for a company, there are lots of companies out there who want join the social media realm but most of them aren't prepared. They need someone who is and if you're that person, it won't be long before the job boards will be full with "Seeking Twitter Pros".
You could also sell stuff on Twitter, it's not uncommon to find "Special offers for Twitter followers", try 'Micro fundraising' by combining micro blogging and micro funding, you could try your hand at promoting music. A service called Tra.kz combines a short URL service with a music community and a marketplace, which sounds a lot better than the music industry or the iTunes monopoly.
Advertising. Two Twitter ads services have come to my attention so far: Magpie and The Branch, both appear professional without being spammy but I haven't tried them yet so I don't know if you can earn actual money without your followers being scared off.
Another ad solution for Twitter is Twitadd which places banner ads on your Twitter page, you could try sneaking in an affiliate link, there can't be anything wrong with getting commission from something you support already, look for business whilst on Twitter, there are Tweets daily saying things like "Looking for x programmer"
Many companies offer Twitter Apps for free, but as the applications become more professional, the more people will pay for them, you can't really review a product on Twitter but you can certainly mention it and not being able to advertise your own content doesn't seem fair from a user perspective.
Despite Twitter being so simple and limited, there's a myriad of ways to use it for all kinds of purposes, soon there may be companies who will require Twitter consultants and specialists to teach them how to use it in their particular niche market.
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