eROI Days Email Agency

I recently got an offer from an advertiser to pay for blog ads on this Blog. Here is the email I received:

“Hi,
I’m interested in buying an ad on (http://www.emaildays.com/ ) for a company who offers business email hosting. My budget is about $35. I know you probably don’t do this a lot but I’d love to discuss it further if you’re interested. Let me know what you think. Thanks so much.”

OK – I know it is only $35, but it really got me asking a whole lot of questions:
1) What is the purpose of EmailDays.com?
2) Since the interactive world is in the advertising community in a larger sense, shouldn’t I engage this prospective advertiser to learn more about how blog ads work from a practical standpoint?
3) Since I’m in the advertising community and see so much advertising, isn’t it refreshing to have a blog (and read other blogs) that do NOT have advertising on them?
4) What would be my price that I’d start to entertain the blog ad discussion a lot quicker – $350, $3500?

What would your price be? What are your thoughts on blog ads? Please comment and continue the dialog!