I did paid posting a few years ago and Googlesmacked my blog from a PR3 to a 0 then recently I got back to a 1 but started doing real reviews and they dropped me to 0 again. I wonder if this affects blogs that are already published?
Had the same thing happen to me. I had a PR3 blog, was making like $10 - $15 per review from PPP, and got whacked to PR0. This was when they wanted in post disclosures.
Now, you only need to have a "disclosure policy" like this:
This policy is valid from January 1 2009
This blog is a personal blog written and edited by me. This blog accepts forms of cash advertising, sponsorship, paid insertions or other forms of compensation.
The compensation received may influence the advertising content, topics or posts made in this blog. That content, advertising space or post may not always be identified as paid or sponsored content.
The owner(s) of this blog is compensated to provide opinion on products, services, websites and various other topics. Even though the owner(s) of this blog receives compensation for our posts or advertisements, we always give our honest opinions, findings, beliefs, or experiences on those topics or products. The views and opinions expressed on this blog are purely the bloggers? own. Any product claim, statistic, quote or other representation about a product or service should be verified with the manufacturer, provider or party in question.
This blog does contain content which might present a conflict of interest. This content may not always be identified.
And yes, you should have a privacy policy as well. Just make it standard when you set up the blogs, and no worries.