I don't really understand how you make Google Adsense Channels. It says "Add Channel" then you type in the name, but do you have to put URL's to sites? Can't I just type in the name of the subjects I want, and then it puts ads to sites that are in that subject?
You can add in the channel name your website name, ad location (eg: top,left,right,content,review page, etc). It will help you to know which ad is giving you the best revenue.
Channels are definitely worth figuring out, especially custom channels. They let you give each of your ads a name, and then see the stats for each one of them. It's makes it a lot easier to tell which ones are doing well, and which ones need work.
I added channels to the ad, but when I put the ad on the site, it shows ads of websites I didn't use for channels.