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I used to buy quite a bit of my own content and in my experience it didn't improve either acceptance or conversions.
I can understand the overused argument, but many of the content sets WMs reasonably can afford to buy consistently are just as overused as sponsor content.
It also doesn't make sense to me to promote a site with content that can't be found in the members' area once the surfer signs up.
From a freesite builder's POW the single best argument for using your own content is that you can do what you want with it. If the sponsor goes bust just change the ads on your old sites and you're good to go. If one of my major sponsors went out of business I'd be in a bit of trouble.
From an LL owner's perspective, if content from a particular sponsor gets over saturated, I'd just have to limit the number of sites I accept that promote that site. It's tough, but that's how the game is played (but it hasn't been a major problem for me yet).
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