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I used sponsor content for along time, still do when I can, I felt it was appropriate for just the same reasons you outlined. I was also suspicious of sponsors that didn't offer content and assummed that their sites were old and tired anyway. Once I got to the point where my sites where up to the quality of generally getting accepted I could tell which lists were not listing me and usually I could trace it back to sponsor content. Thing is many of those lists are ones you want to be on.
It finally came down to time managment. For all the time searching for sponsor content that WASN'T over used and then dealing with watermarks and the rejection of vid caps, and trying to build a site that fit into the content I had and all the other messing around, it just became more practical to buy a ton of content which I did just not too long ago. Now I'm focusing on building sites rather than scrolling through used content.
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