Google Responded To My AdSense Arbitrage Query...

On Fri, Sep 9, 2011 at 8:05 PM, Google AdSense Policy Enforcement <adsense-support@google.com> wrote:
Hi John,

Thanks for your email. We recommend publishers to always have good quality organic traffic and avoid getting traffic from sources that is not interested in your content to minimize the risk of accidental or fraudulent clicks, resulting in ads disabling. To that effect, you may find additional information valuable:

Publishers may not place Google ads on pages that violate Google's webmaster quality guidelines (Webmaster Guidelines - Webmaster Tools Help). While we've included the following excerpts from these guidelines, we recommend that you take the time to review them in their entirety.

* Make pages for users, not for search engines.
* Don't employ cloaking or sneaky redirects.
* Don't load pages with irrelevant words.
* Don't create multiple pages, subdomains, or domains with substantially duplicate content.
* Don't participate in link schemes designed to increase your site's ranking or PageRank.
* Avoid "doorway" pages created just for search engines, or other "cookie cutter" approaches such as affiliate programs with little or no original content.
* Avoid tricks intended to improve search engine rankings. A good rule of thumb is whether you'd feel comfortable explaining what you've done to a website that competes with you. Another useful test is to ask, "Does this help my users? Would I do this if search engines didn't exist?"
* If your site participates in an affiliate program, make sure that your site adds value. Provide unique and relevant content that gives users a reason to visit your site first.

Sincerely,
Marc
The Google AdSense Team