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europeforvisitors - 2:16 am on Oct 2, 2007 (gmt 0)
There is one key difference: Parked domains mostly attract type-in traffic, while "word farm" sites attract traffic from search engines or PPC ads. Google has made its distaste for junk PPC advertisers fairly clear (via low AdWords "quality scores" that lead to $10 minimum bids). Google also owns a search engine, and it can't be thrilled by having to identify and filter the millions of worthless "word farm" pages in its search index.
If ads on parked domains are good for advertisers and the advertising networks, I don't know why these "word farm" sites wouldn't be good for them also.