But I don't use adsense on my two most popular blogs.
I decided to completely give up on monetizing my personal blog (kuyakevin.com). I had two problems with adsense there:
1. It wasn't earning much money.
2. Since my personal blog is more spiritual in nature, ads for religious wacko groups kept appearing.
I also removed adsense from my fitness blog (strongandfit.net) once I switched to affiliate marketing. I was running into two problems:
1. The ads that show often advertise the same products I'm selling through affiliate marketing, which means someone else could "steal" my commission.
2. The other ads are what seemed to be bogus products ("lose 20 lb in 20 days," etc).
Here are a few more random thoughts:
*I think most blog readers understand that you, the blogger, are personally endorsing whatever product shows up in adsense. You'll just have to decide what you are comfortable with.
*It's always good to experiment with more than one way of making money. Adsense may or may not be the best for you.
*Maybe geographical issues come into play here. One nice thing about adsense is regional ads automatically show up on your blog--this could be a huge advantage if your visitors are not concentrated in one country (or region).