as far as i can tell everything is just like a normal cpc campaign just instead of choosing keywords you choose a site(s) like cpm. the ads that i have seen appear just like a cpc ad, they dont take over the whole ad block like cpm ads do. like cpc you can set a min bid of a penny but i had to go much higher to get ads to show, price will definetely vary site to site as you are competing with the cpc and cpm ads as well. basically this just lets you run ads on the content network without ending up on sites that are only keyword matches ie you can place ads on widget.com and not on widget.dfsasf32.info or spend a ton on wasted impressions via cpm. so far it looks like it actually may cost a bit more per click than if you were going to do keyword matching but ill glady pay a few more pennies to get my ad where i want and only where i want.