Cramer made $398,000 for charity in his charitable trust in 2010. I'd say he is pretty good. I've made money by following along with some, not all, Action Alerts holdings and gotten quite an education by watching how Cramer operates (under some considerable restrictions.) You have to pay attention to timing and catalysts for stocks he talks about. You can't just buy and expect to make money. And you have to handle losses as well as gains smartly. He isn't right all the time.
Too many people just buy based on what he says on tv, and just because he said buy a month ago, that doesn't mean he likes it now. Don't assume he's just going to cover all that on tv as the market changes. His AA plan at least tells you all the moves he's making and tells you what he's looking at for taking profits or increasing positions.