Except adwords is in this mix. This makes it one step closer (or is it already upon us?) for ads to be targeted to me based on the contents of emails I send and receive.
To me, email is one of the more personal and private things that I do online and even the possibility that Google will use my gmail account to target ads is too much.
edit: perhaps I should clarify – as I understand it, the ads that are currently displayed are relevant only to the email on screen when using gmail's web interface. What I meant was that SPYW opens the door to ads everywhere targeted based on the contents of all of my email. I don't believe that Google does that currently, but I have every reason to expect it's coming. And that bothers me.