numnum - 11:27 pm on Jun 17, 2012 (gmt 0)

I just opened up a Blogger account to answer my own questions. You must accept G's TOS in order to use this feature. You search for products by keyword/phrase. You select a product/merchant, then select either link, image, or full ad. You then copy the code, which you can embed anywhere in your post. For full ads you choose the size (like Adsense).