There is a place and a show for everyone out there. Before I took my current full time job, I survived on art fairs only. Most of these shows were juried art shows with less than 10% being craft shows.
I picked shows based on personal experience, art fair insider publications, and advice from other vendors in my media. (If you're a jeweler, ask a jeweler.) I also took in consideration the booth fee, mileage, average median income and time of the year.
I'm still doing art fairs with my full time job, but now I'm more picky.
I was once told that to actually come out with a profit, the booth fee should only consist of 10% of your gross sales. If you're paying more than that, you're losing money. (once you figure in your supply cost of each item, food, gas, lodging, credit card fees, booth fees, etc.) Even if you've made your booth fee back, you've still lost a lot of money.
I also agree that you should go to a show before you apply if possible. Seeing IS believing.