For me, It comes down to the quality of the breeding and WHY you are breeding an animal. While I'm not keen on everyone breeding willy nilly when we have such a over population problem.

If you truely are a reputable breeder, out there to HELP create better dogs, for the dogs themselves, and for their owners that's fine by me, pretty much any really reputable breeder won't make much money off their dogs, it will all go back into paying for the care the animal needs, and they have regular part time or full time jobs else where.