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In my experience, across a range of clients and sites, AOL search traffic converts better than anything else. I am willing to pay more for my ad to appear on AOL than for it to appear on Google.com. I am willing to pay a lot more for it to appear on AOL than on a lot of Google's search affiliates.
Time Warner should start its own PPC. It could collect more money than it's making from Google right now. Yes, there would be expenses, but I bet they could make this a profitable business.
Please get on this Time Warner, so I can turn the search network off on my Google campaigns.
Come to think of it maybe Time Warner should just buy FindWhat. Indications are AOL is setting up to dump Google the same way Yahoo did so they may be needing a PPC platform.