I just came across yet another contextual ad service that I haven't heard of before - http://www.contextweb.com -

it's got options for both advertisers and publishers.

Looking deeper into the product info, http://www.contextweb.com/Corporate/lib/more_info.pdf
they use an About.com example, which is kind of odd, since they are an Adwords partner, i haven't seen ContextWeb on their sites before.

However, there's been many mentions of the service in pubs we're all very familiar with:
http://www.contextweb.com/Corporate/pressroom/pressroom.shtml

I'd like to see some examples of major distribution sources, but interested in hearing any first hand experience.

Perhaps I'll get in touch with a rep over there as well to bring more info here.

Edit - Running List of Distribution Network:

Major Sites/Publications:

Meredith Publishing Network: (http://www.meredith.com/websites/index.htm)
Better Homes & Gardens (bhg.com)
Ladies Home Journal (lhj.com)
AmericanBaby.com
more.com
healthykids.com

Independent Publishers
emaxhealth.com

I looked into this when it launched. From a publisher point of view, there are some major red warning flags. Here are some of those highlights from their Terms (http://www.contextweb.com/Corporate/publisher/publisher-TOS.shtml).

Because we are assuming the risk of collection from the Advertisers, we will hold back an additional five percent (5%) of Net Revenues from your share for bad debt allowance. We shall not be required to remit any Net Revenues to you for any month in which you provide ContextWeb with less than $50 (USD) in Net Revenues or fewer than 50,000 Countable Impressions (as defined below) from the Website; such revenue share shall be forfeited.
So if you earn less than $50 or you register under 50,000 impressions, you don't get paid for the month. And not only that, you forfeit that money as well. Not very good business practice if you are trying to entice publishers to sign up.

If you are unable to obtain the Advertisements from our ad servers on a consistent basis, you must stop requesting the Advertisements and contact us promptly, but in no event more than four hours after the problem first occurs.
Since they seem to be after larger sites, I know most publishers won't be scouring their sites to be sure ContextWeb is actually serving up ads like they are supposed it. And most people I know do sleep more than four hours a day, so it could easily go unnoticed much longer than 4 hours! And because ContextWeb is having problems serving ads, it falls on the publisher to then remove all ads?

They can also give advertisers free clicks or impressions for which publishers are not paid for. And they can cancel your account if they feel you are not serving enough US-based traffic... but they don't tell you what levels of US traffic you must maintain.

It could be a good program, but many publishers are steering clear of it because of their TOS. And people thought the AdSense TOS was too strong ;)

Any advertiser perspectives yet?

I have read many forums where publishers are not happy because they are not being paid for delivering what Context web determined to be fraudelent traffic. In some ways this makes me feel comfortable that they are disabling accounts and suspending payments for what we all know is an enormous problem in the contextual advertising realm. It is only a $100 minimum but I would still prefer to hear what other advertisers have to say about this program before coughing up $100. What can I say, I'm cheap...

Thanks CallawayGuy, that's good info (about ContextWeb being strict like that.) Good enough for me to spend the $100 anyway! I'll let you know how it goes.

Just checking to see if you had any luck with their service before I sign up. Thanks.

Hello, Callaway Guy, we've not signed up for the service yet. Tell you what though, once we do sign up, I'll remember to send you a message and let you know.