My involvement in the arbitrage issue was highlighted in the recent issue of DirectMag.
I remember talking with Brian Quinton both in August in San Jose and then at Chicago. The Chicago arbitrage panel was a lot more unfettered.
Hell, we did not have a moderator until the last few minutes - so everyone was jumping on each others opinions. Sadly, Kim Malone of Google AdSense removed herself from the Chicago panel.
Guess she knew this issue was getting a little too hot and could only come out bad for her company. And she would have been right. Both Google and Yahoo came in for some abuse on how they have allowed this situation impact everyone in the industry either directly or indirectly.
I tried to get others from MSN and Yahoo to take her spot and everyone said no.
This one is not going away any time soon.