I'd be quite keen to advertise my to-be-launched-soon coder community site (that's not competing with SO) on SO, but they have no self serve system and I'm not paying the $20+ CPM they'd probably quote if I contacted them direct.. :-)
Appreciate the cynicism, but at the right price I (and doubtless many others) would do it for sure. An advertiser's idea of the "right price", though, is bound to differ from theirs ;-) Given that developers have a low CTR.. the CPM would have to be "very low."