I was just reading Google's recommendations for placement of Adsense ads on blogs for the best click through and conversion rates. Everything they say applies to affiliate marketing so I think that affiliates and even merchants could get something out of reading this and reviewing the pictures of the optimum ad placement.
Quote:
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"Whether the subject is gadgets, gossip, or a glimpse into the writer's personal life, readers are deeply engaged with the content of their favorite blogs. What could be more effective than displaying an ad precisely relevant to that content? An ad after each post can serve as a "commercial break" from reading or as an "action step" to take after reading."
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From the Official Google Adsense Blog - Inside AdSense: Blogtimize!
http://adsense.blogspot.com/2006/01/blogtimize.html
What do you think?