That $110 million figure gets bandied around, but that is not a number from Google and instead comes from a simple assumption that those 1% of searchers would behave just as other Google users behave.

Most of the "I'm feeling lucky" traffic is likely people using Google to find a specific site instead of using the address bar (typing 'facebook' into Google for example).

It's highly probably that Google has run the numbers and it is nowhere near $110 million.