Re: product placement, I don't agree that all the US versions of it are subtle (the SUVs on Desparate Housewives spring to mind) but I do think that it was a needed "break" for the commercial channels. I'd limit it to "background" visuals (ie. the products can appear but mustn't be zoomed/focussed in on or referred to in the script.
Consumer advice programmes on commercial channels will have to end, in my opinion. There's already a suspicion (in this forum at least) that The Gadget Show is "The iGadget Show" and, if PP is allowed in it, any remaining trust in the independence of their advice will die.
As to whether it will just redirect income away from the spot ads, it's an interesting question. Presumably, some of the income will go directly to the producers, instead of the broadcasters being able to take their cut. So, if the total ad income remains static, the income that ITV are able to make use of themselves will fall. I'm sure in the short term the total ad income will rise, but longterm who knows?
K