incrediBILL - 8:00 am on May 23, 2011 (gmt 0)
Bear in mind that if Google discover it ..they will ban you , terminate your adsense account.
If you have a page full of nothing but ads it's arbitrage.
The whole thing is about intent, you have a right to advertise your site, and it should be obvious from the ads and page content you're driving legit traffic to a legit site for legit purposes.
Most of those that did arbitrage had junk sites nobody wanted to be on, autogen nonsense, and stuffed full of ads to force people to click an ad to get off the site.