No, it does not. https://www.google.com/adsense/support/bin/answer.py?hl=en&answer=9735 The site I saw had 5 Adsense for content units, when the max is 3. That same day itself when I wrote the post, they quickly changed the 2 to other banners....they knew it was wrong, but still did it. I think someone from there that always hangs out here on DP saw my post and quickly changed the ads. *WINK*
i meant 5 links units and 3 banners anyway if a person put 5 banners on a single page, only 3 would be displayed at any time i'm pretty sure about this