Pay Per Post Update:
After almost 3 days I emailed a complaint and my opportunity was approved.
On the plus side, it sounds like it's an advertisers market with thousands of bloggers and no advertisers.
We'll have to see what the quality of posts is like. I'm really hopeful that I'm not going to get a bunch of work at home soccer mom blogs. Actually, after reading the forums of the posties, I'm not expecting high quality professional blogs, which I'd be happy to pay a lot more money to have links on.
So, cheap advertising where you get what you pay for, is what I'm expecting.