My concern about the Federated Media deal is that US users will start serving relatively tasteful Automattic-vetted ads from which they may even be able to earn the occasional cent, while the rest of the world continues to get flashing download buttons and porn with nothing in exchange but loss of credibility.

(I'm in the UK and I hardly ever see Adsense on wordpress.com any more. There are some Federated Media ads which are OK, but the obnoxious ones are coming via Adperium and Yahoo.)