Just a quick note on an interesting test I have done on AdSense content targeting. Simply put, I uploaded a number of copies of a html document with some text about DVD-players (in Swedish), altering only the <title></title> and the file name of the documents. A 250 x 250 AdSense unit were also included.
The results are interesting to say the least. From this simple test it seems that in this particular instance AdSense relies entirely on the filename / URL alone to determine content targeting. If the file is called world_of_warcraft_guide.htm, then ads about World or Warcraft would show, regardless of page title and page content (see images below).
Furthermore, if the filename was buy_car_online.htm, then ads about car rental would display, despite the title being DVD-player (in swedish) and the content being about DVD players.
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