europeforvisitors - 4:19 pm on Dec 20, 2004 (gmt 0)

Logically - a person clicking on a targetted ad 'anywhere' where the 'audience is targetted' should have a similar sales conversion rate [+/- %] as anywhere else that is targetted.

No, because audience behavior will vary with the topic and type of content--which is why Google's "smart pricing" gives a bigger advertiser discount on some types of content than on others.

On a travel-planning or product-review site, for example, conversion rates are likely to be high because visitors are actively researching ways to spend their money.