I have experienced the same thing with HSN with the switchover to Ifriends. My conversion ratios tripled. Unfortunatly, I had to pull all my links to HSN because of this situation. I also pulled all of my Ifriends links as well. Ifriends could never compare to how HSN was converting. $/unique was awesome..
I cannot ever trust Ifriends with my traffic again after this whole fiasco. I don't believe that they are shaving.. but something just is not right with them. Seeing my conversions with Ifriends quadruple in the last few months... to HSNs downfall.. Im done.
Sure do miss working with ARS though. Patiently waiting for their revamp.
Will. No matter what you say.. People are not going to trust Ifriends these days. Its just too risky. Maybe you should put your energy into talking them into having an actually have a real webmaster program with actual support.. so some of us could feel better when things go rough or get some reassurance. That is a major problem.. and I think I can speak for others about that.
Im doing well with
Streamate
by the way for all who need a new place to send your traffic.