I and experimenting with a new CPM advertiser network. Lookery was originally set up to serve ads on Facebook applications. Now they're serving ads on websites, MySpace, and Bebo.
I'm impressed with the ads they serve, but not terribly impressed with the interface. It's easy to sign up and set up, but there isn't much information on the website. Most of the information you get comes by e-mail, up to 24 hours after the fact.
I'm assuming they're still operating with a certain amount of manual labor involved. Perhaps they're checking websites and verifying applications, which is good, but if they ever reach critical mass they may struggle.
I signed up yesterday and the ad servers activated my account today.
One thing I do like, is that you get more impressions than visits because after an ad is displayed for a few seconds, it refreshes automatically. This means while people are reading my articles, I'll get a few extra impressions.
Additionally, I believe advertisers can actually handpick my website, but the navigation for this has lots to be desired.
Finally, the statistics are served from an area separate from your account. I'm not quite sure why, but it would be nice if I could access my stats from my standard account interface.
I'm going to test them for about a month, and let's see if it generates any reasonable income. Getting paid makes up for inconvenient user interfaces, but so far the jury is out.