I know a lot of AdWords affiliates that are still making VERY good money... and many of them rode out these last changes and are doing just as well if not better... I know guys make 10K and more per month using AdWords to promote affiliate programs...
Some of the principles laid out in some e-books are a little outdated, but they are still worth a read. It lays down the basics and groundwork you need to succeed at Adwords from an affiliate perspective.
I first got an e-book a year and a half ago and still use many of the principles to make money with
I have however adapted them and have my own way of doing things, but still it is a part of me and my method.
There are still 100s of thousands of niche markets out there to be tackled. It isn't as easy as it once was. It does invovle that 4 letter word... work.
I will say this though. Many the AdWords affiliates do realize the importance of building landing pages instead of just relying on direct to merchant...
And the hopefully know by now to survive long term in this business, one must be diversified as well...
Hope that helps.
[edited by: skibum at 5:56 am (utc) on Sep. 13, 2005]