From the data I have seen, the effects have been very limited.
Firstly there does appear to have been a drop in the number of searches that provide Espotting matches. Thus the clicks/search ratio has dropped by about 15-20%.
Secondly, as expected, the average cost per click has risen by about 15-20%.
So the overall net effect has been negligible. However, I imagine that the costs for Espotting have been significantly reduced, since they have 15-20% less listings to check/edit.
[Title fixed - 4eyes]
[edited by: 4eyes at 5:20 pm (utc) on June 1, 2003]