We got the email too. We are already Adword Select customers, although I've dumped most of my ads because it produced traffic but not sales. I'm not sure why as my CTR was pretty phenomenal and very targeted, go figure. I'm not sure I want to quadruple my bill with all the AOLers clicking through but ya never know.
AOL customers were always good buyers for us when we used to get their traffic pre-Inktomi. I think we might give it a shot to see what the conversion is and take it from there. I have not seen the Adwords Select on AOL yet. Will it be posted as it is on Google or just like AOL's select ads at the top now?