helleborine - 11:42 pm on May 4, 2012 (gmt 0)
Looking into the long run, I think we've peaked, and we're not going to enjoy the ride down.
We've got a lot working against us. Smart pricing, popular ad-blocking browser add-ons, Google losing grounds to Facebook for traffic, Bing moving up in prominence, Google showing more ads on its home page, ad-blindness... but especially ad-blockers.
I hope I'm wrong, but five years down the road, the AdSense golden age is quite likely to be a memory.