I found a site that has 5 referral links on the bottom of the page. Pretty sure that is against the tos.
Is it problem to show 5 referral links in a page? Why? I think its not PPC.. then what's the problem?
No. According to the ToS it's perfectly fine. So that means: 2 x Adsense referrals 2 x Adwords referrals 2 x Firefox referrals 2 x Google Pack referrals That gives you a maximum of 8 referrals per page. (Not taking Picasa referrals into account since they are incorporated into the Google pack.) Now if it's a good idea to have that many is a whole other story!