I have been using PAN for years and it is without a doubt the best deal on the Internet. You can pay as much as $30k to license an adserver from some companies, PAN is free and it does everything the big boys do,, and they latest version is unbelievably good.
A couple of differences in perception Craven:
Quote: Zone = An area of the publisher's website. For example, this forum has a zone that is different from the travel forum. Each is a different zone.
While you can do it that way, I find it easier to define a zone as an IAB banner spec. For example my 728x90 leaderboard is one zone, while my 160x600 wide sky is a different zone. Then when I do my invocation codes the zone always matches the space set aside for it. If you do not have any banners that fit, PAN has a substitution option.
I serve up about 300k ads /day so I had to a lot of optimizing. I like the iframes, but the javascript lets you add parameters such as not having two ads from the same campaign on the same page. I could not invoke javascript in phpBB - I drew blanks, I tried all kinds of DB settings and could not fix it. The final trick was calling the ads from a separate IP address on my server.
Publishers / advertisers / zones....
Publishers show the banners, banners come from advertisers who run campaigns.
I set my web site up as a publisher in PAN, and put the invocation codes in my web site and enable certain zones. I add advertisers in PAN and create campaigns. I upload the bannersto the campaigns (the most effecient means is local mode webserver, file caching). The banners get assigned to different zones depending on what IAB size they are. You link each banner to zones enabled in your Publisher Web site in the zone admin.
I went around and around with this program until I got it right. One great thing about it is that it allows you modify flash banners to generate a random number. If you run a DoubleClick campaign they do not count cached files (I have been screwed out of $1000s by unscrupulous interactive agencies - not DoubleClick -) so you MUST enable this. Otherwise about 1/3 of your banners never get counted.