It's great to hear that the Guardian Unlimited is now officially turning a profit. Many people assume it's easier to make a profit when you're big, but on the Internet things just don't work that way. From where I sit, it seems much easier to build a profitable online news operation on a local/regional scale. Most consumer spending goes to cars, homes and entertainment -- all local processes -- and most people would rather switch jobs locally than uproot their families. So naturally local advertising markets are powerful opportunities, and nationwide/global media such as the Guardian website find it very difficult to operate in that space.
Also worth noting: The launch of Comment is Free, the Guardian's blog-powered comment and analysis engine. So far, the followups appear relatively high-level.