I read at jim karters blog that adsense and text-link ads are not good to have at the same website. He mentions that you can have one or two in the content, but not in sidebar. Why? What's your experience? Do you run both programs on your site?
If you use Adsense then Google is "watching you" more closely. Google does not like TLA, and most often your rankings will drop in SE if you site is bigger. I would use it on medium sites if you can sell.
If you are using the adsense then google tem is watching you constantly and normally they will ban you if you use some text link ads. You have to use one. I would suggest you to go for text link ads. 1. Google’s minimum for actually cutting you a check is higher than most other services. 2. Text link ads can run themselves as easily as the AdSense script. 3. Because text link ads don’t require anyone to actually click through, there’s less pressure to pimp out a site with ads in very prominent locations. and finally… 4. Even if you only sold 1 link a month with Text-Link-Ads.com, you’d still be earning more money than you do with AdSense currently.