Seems AOL is showing some faith in its own medium.
According to a New York Times article yesterday, they have decided to put the bulk of their $50 million advertising budget for the push of their new open-access portal into web advertising.
Interestingly they are using Google and Yahoo for PPCD and have actually earmarked some of the money for developing optimized pages and improving the ones that exist right now.
Guess the SEO world is smiling right now... I know I am!