Anyone ever hear of this happening? I am considering Adsense on a site (all white hat) whose 3 paid links get a combined 2,000 clickthrus monthly; it is in the top 5 for most key phrases, which cost .40 to $2 on Overture. But I just may hold onto current traffic and have a rep sell links, if there is a significant chance of both not getting approved for Adsense and also getting busted for SEO by the editor.
Any guesses as to how much attention the editors pay to the extent to which a page is optimized? Or heard of something of this nature taking place?