Adsense Upgrade + Subdomains

Would this work?

[CanadianChris]

I'm building a site that I'm hoping will have alot of affiliates down the road so I'm trying to design the structure of the site to allow affiliates to use adsense since it's a major source of traffic for most affiliates.

The new adsense update declared that only 1 ad is allowed per domain now.

But what about subdomains?

If I created www.affiliate1.domain.com specifically for the affiliates and had specialized landing pages built, would each affiliate be able to get an ad to the domain this way?