This is the first word that 90 out 100 webmasters day, I used to think the same way. I changed my decision once, I once thought Bidvertiser is better than Adsense watching couple of big clicks! but in the end I didnt get them, thanks to their 'algorithm'.
My Bidvertiser story.
I ddnt have adsense till yesteday, thank god! what a relief finally!
Before, I had this Bidvertiser running on my site for a month. My daily impressions are on and around 4,000 to 5,000 and clicks would be around 10 to 20. Bidvertiser has the disastrous CTR in the market. Reason? It doesnt show relevant ads, as it's a 'site targeted advertising'. CPC? even disastrous, 1 or 2 cents a click. :| Total income for the month? $28.
Issue with bidvertiser.
All clicks will not be counted. (only 'legitimate' clicks will be counted, means they have the right to decline any click, which they do more and more)
Poor CTR: As you don't show relevant ads to the content.
Low CPC: Unless your site is huge and famous, you don't get no more than 3 cents. If your traffic is US dominant, then you can get some good CPC with no guarantee that you click will be validated.
Review before payment: They talk about some algorithms and nonsense and they will not pay you telling you scam them by generating fraud clicks. This troubled me a lot, as I own a site which is in google news, I get huge traffic from my city and cities around primarily. This will not help and you might lose all the payment. Don't sit back and think you have got your payment.
Final word, use Bidvertiser only if you dont/cant have adsense.
Adbrite is lot better than Bidvertiser, you can easily fraud Adbrite and they are good guys, I love them coz I got many cheques from them for my fraud clicks only problem with them is Adbrite only works for US traffic, and for countries like India, they don't even have ads to show up.
I don't like Bidvertiser. I feel they scam a lot.
Bidvertiser: Page views 4,000 - clicks 21 - income $1.2
Adsense( my first day Adsense income in life)
Page views - 3,702 - clicks 112 - income $27.54