europeforvisitors - 10:17 pm on Feb 17, 2006 (gmt 0)

Interesting observation. I had higher EPC in the first half of January than in the last half, and EPC this month is down slightly. Maybe the separate bidding is a factor.

I don't think demand is down, unless Google's advertisers are all watching the Olympics, because this is my busy season and affiliate bookings are running even stronger in February than they were in January (which was a record month).