Here are the bits in their terms and conditions that I thought were interesting:

5. Exclusivity. For any webpage or RSS feed that includes the Ad Code, you agree not to display or link to any other advertising (including but not limited to any listing) that is mapped to or responds to the content of the Ad Page.

Fair enough. It kinda blows what plans I had to use YPN as an alt ad for AdSense. If one AdSense ad unit pops over to YPN, and not another–I'm in violation. So I'd have to run YPN exclusively on certain pages. I checked Google's terms of use and didn't see anything in here about this.

From 9, though, here's where we get the problem others have run into:

g. you are a US-based business and you are operating Your Site and/or Your RSS Feed solely for viewing and use by users within the US; and

Wait, what? I thought those other reports were kidding, but being an internet site that gets traffic from six continents I can't "warrant and covenant" this in any shape or form. Nor do I want to block non-US users. WTF is this? And people actually call Google arrogant?

From 13…

d. the right to use your information for any internal business purpose; and
e. the right to crawl, copy, index or otherwise use the content of Your Site and/or Your RSS Feed(s), as applicable.

"Internal business purpose"? And I have no problem with people crawling all over the site. Indexing is what search engines do, and they copy as well when they basically hold a cache of stuff. The Internet Archive copies for crying out loud. Just the fact that they feel the need to include this creeps me out a bit. Because basically they've given themselves the right here to print off hard copies of my site's content in hardback and sell them in bookstores. That would be kinda cool, and of course they don't want to do that, and of course anybody could probably go do that anyway–but it just seems odd they've given themselves such a broad thing here in writing.

14. Reserved Rights. In addition to any right not explicitly disclaimed or waived by Overture, we reserve the right to:
a. investigate you, Your Site, Your RSS Feed(s), your owners, officers, directors, agents, contractors and employees, at any time;

Whereas Google promises to investigate if they feel something's fishy going on, and then it's "activity" and the use of software to screw with clicks, YPN gives themselves the ability to poke into anything they want having to do with me. Man, they might find out I use pseudoephedrine! Oh shit!

And here's a fun one, from that same section:

c. provide Ad Units that contain content other than ″pay for performance″ advertisements, including, but not limited to, Ad Units that contain advertisements or links to Overture or Yahoo! services, charitable or non-profit organizations, blog posts, blog search results and web search results, without including such advertisements, links or results in the basis for payment under this Agreement, even if we receive payment for them.

They can hit me with ads and not pay me for them. Nice, huh? With Google I can opt out of charity ads if I feel like it. With Yahoo, they can advertise themselves all day long and I can't do shit about it. Nice. And I don't see anything in the Google TOS that says that those Google Checkout ads are freebies. Maybe they are. Maybe I'm making a penny off of them if anybody clicks. I dunno.

But as I'm reading this, by signing up I'm giving Yahoo the right to make me US-only, copy my site's contents and use however they want, investigate me, and basically make me run ads for free as they so desire.

No thanks.

And for the record, yeah, I like Google just fine. Some have problems with them, but some have problems with lots of things. But I'm not writing this to cheerlead for Google. I just thought I'd double-check the TOS for Google to make sure I wasn't being paranoid for YPN at a different level that I was for Google. And I don't believe I was. If somebody knows something I missed, let me know.