Ya it seems like every faucet i find is dried up, is mining currently profitable?
As with all things - the answer is: It depends.
It's currently technically more profitable than Bitcoin in that the reward for work ratio is higher so a lot of smaller GPU miners just mine LTC to trade for BTC.
It really depends on your setup. Do you have AMD GPUs already? Have you set them up with cgminer already?
I know everyone says avoid paypal but a lot of times you can find people who will sell you token amounts via paypal so long as you send it as "friends and family (formerly gift)".