A few months after CCP changed the tier system we ran the numbers again. Minmatar was holding t4 at the time. This resulted in a rather impressive 600m an hour or so which, although nothing like prenerf faction war, was still a nice amount of isk. Kwark had joined Eve Uni on the Wrathful Penguins character and decided that since fw had been nerfed and CCP weren't likely to touch it again, we might as well put a guide out to the public.
Link to FW Guide on E Uni Forums: http://forum.eveuniversity.org/viewtopic.php?t=65348%27
It is very important to note that this information has not changed. CCP have done nothing else to faction war as of this post so everything in that guide is still 100% relevant. Income is likely 300m an hour per toon at t3, 500-600 at t4, 800-900 at t5. This fluctuates with implant and ship prices so spreadsheets to find the best conversion are highly recommended.
Remember that this is the stated income per toon, the more characters you can handle running fw at once the more isk you will get, for example if you have 4 caracals at t4 you will be making between 2b and 2.4b per hour total. Yes, I would still qualify FW as being absurdly broken but I doubt CCP will care unless we spike plex cost again.
This brings a close to the FW posts for now, so I figure I can end it with some interesting reference pictures:
Cashout Pic: http://i.imgur.com/DV2SU.png
Another Cashout Pic: http://i.imgur.com/Tzoig.jpg
Yet Another Cashout pic: http://www.teamliquid.net/staff/KwarK/est.png
Some afk merlin losses: http://i.imgur.com/saVJP.png
More afk merlin losses: http://i.imgur.com/sqjmP.png
Caracals lost to lack of attention: http://i.imgur.com/sKoaM.png
And finally what happens when you try chasing a caracal and the guy decides to bring the rest of his caracals from 2j+ to just kill you (none of these caracals had points): http://i.imgur.com/ZOrrK.png