Adsense Earnings to Plummet or Soar? - Speculation on New Adwords Rule

Thread Title:
Black Wednesday for AdSense? Or a jump in earnings for publishers?
Thread Description:

Jennifer Slegg has some interesting thoughts on how the new Adwords rules reported earlier will affect publishers:

Many publishers are used to seeing many similar ads on a page that lead eventually lead to the same affiliate program. But if the one advertiser per merchant also applied to content match, this could mean a tremendous loss of ad inventory for AdSense publishers to display. And for those publishers whose sites tend to display mostly affiliate ads, the income loss could be staggering.

However, if Adwords/AdSense get together on this and allow one advertiser per keyword per merchant on the search side, yet allow as many advertisers per keyword per merchant on the content side of things, this could actually result in more advertisers opting into content. If they cannot afford the bid price in search, advertisers would still have the chance of getting click throughs in content, where it could be more affordable if all the advertisers are not trying to outbid each other for a single spot in the serps.

Thoughts from the Adsense boys and girls?