By contrast, I've evolved multiple websites through incremental, globally measured, optimizations. It's a lot of fun and it requires you to really understand your user (I've called AB testing+analytics "a conversation between you and your users"). But, as you point out, it can be tough to get statistically relevant data on changes to a small site. That's why I usually focused on big effects (e.g. 25%), rather than on the blog posts about "OMG! +2.76% change in sales!". That's also why I did a lot of "historical testing", under the assumption that week-week changes in normalized stats would be swamped by my tests.