One of the first offers I've received for advertising was a text link from a jewelry company who wanted to buy a post. I was excited, but it seemed very strange because I didn't have very much traffic at the time. So I engaged in conversation…
It turned out to be more trouble than it's worth, and the content was too far from what I would normally post, so I passed. I get offers all the time to purchase links in posts, or even whole posts, I have never used them, because I thought it may interfere with the integrity of the blog.
There is a great post on ProBlogger.net in regards to text link selling. Google penalizes websites that sell text links. I'm not exactly sure what that means, if they will decrease your page rank or worse. (oh my…) It seems like my initial inclinations were right, to hold off and see what other forms of monetization are out there.
What is your experience with these kinds of offers? Are they a good deal?