Make sure your mailing address is correct - if you don't get the PIN in a month or so, contact Google.
I second that. I'm outside the US and the last PIN took more than 2 months to arrive. Edit: Ups, Jarodboy's post wasn't there when I clicked on reply ;-)
I had to ask them to issue me the pin again. Which is after a time gap of minimum month or something. i got both the pins at an interval of 2 days here. after validating the pin i got my first payment in the next payment cycle. hope this informtaion helps cheers money_train