Via Ted Rheingold.
I don’t know why anyone would think it’d be a good idea to leave sole control of their income up to a secretive, opaque, unreachable company known for terminating accounts without reason or notice and not paying people what they’re owed. AdSense has been this way for its entire existence — I guess it shouldn’t be much of a surprise that Google Checkout payments work the same way. (And PayPal is no more reliable or transparent to its merchants.)
Never trust Google or PayPal to handle critical money. Income coming through either of them should be treated like mail-in rebates: if you get it, great, but don’t depend on it or assume that it will come through.