Angel investing is not altruism, it's business. I don't do angel investing because I'm not comfortable with the risk profile, and to hear that a popular angel is only making 10% reaffirms my analysis.
I re-read the article to make sure my second point also holds: the 10% (over three years, so really more like 3% if you are looking at IRR) is only calculated on actual current exits.
About half his portfolio is still indeterminate. Barring seriously weird circumstances, he will do very well overall on this crop of investments, especially considering that he started in 2006.
That said, keep on with your current strategy. Everyone has a place.
I'm reminded of old-time slashdot -- I banned jonkatz from showing up anywhere on my slashdot pages. It was bliss.