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Lethal--
Pretty good breakdown, I would add that nothing is stopping you from doing both and testing. There are risk/rewards with any partnership--and AVS is just that. Also "rules" are dependent on whether you are link listed AND what your site is like. You can always work out a flexible deal with most avs systems out there, rules are designed to make money for everyone in the network, not be a source of aggravation for webmasters.
If a had more time I'd go more in depth, but I'll bookmark this thread and come back tomorrow evening when I'll have a bit more time.
A great example of a site that does BOTH is bikinivoyeur.com
They have a program through ccbill and one through proadult.com (an avs)
I suggest you talk to them.
Cheers,
Tony
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