Google's affiliate network will start off as being something separate to the AdSense network with its own ad units.
As an affiliate I like being able to blend the ads into the content AND to have control over the ads. How do publishers write optimal converting content if they are uncertain what ads will even be shown? It is far easier to sell a click than a purchase, so I am not sure how much value Google adds on this front.
Is Google someone you would want to run your affiliate program through? There are so many potential downsides (too much dependence on a single partner at too many points in your business, offering too much business intelligence to competitors, etc.) Thoughts?