Jeremy Schoemaker was lucky enough to have Google AdSense product manager, Brian Axe, live on his Net Income show. As Shoemoney points out, getting any search exec to appear on a live show is a coup, let alone someone from Google.
Search Engine Arbitrage – During the interview Brian said that Google was not against arbitrage and infact they respect it as a business model. Brian clarified more by saying it was about the user experience.
YouTube Revenue Sharing - Brian confirmed what I suspected that Google AdSense would be the avenue in which the YouTube revenue will be paid out. So you will need to be a AdSense publisher in order to get YouTube Payouts. He also talked about the time line for the release.