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The advantage of a new site is it would be easier to get links and directory linkings.
I guess the advantage of putting on the existing site is it would be quality content - but who's going to link to an aff site?!
Suggestions, opinions appreciated
Why? I'd rather link to an established site anyday, unless of course the content were undesirable. And where to put aff links? - where you have some established traffic or none?
Unless it's the sort of content that wouldn't sit well with a merchant, I see no reason to create a new site and double your resource and financial overhead.
With mention about 'Trust-Rank' and possible hand selection of 'seed sites' I think it is essential to have a mostly aff free site which you can use as a hub for linking to your more commercial sites.
That's my logic, alternative suggestions/theories are more than welcome!