Much appreciate all the feedback so far guys.
As I said, we're still mulling it all over at this point. We're eager to take advantage of affiliate sales...but not if it means tossin' the baby out with the bathwater.
I quite agree ASM that with the figures I quoted above, we'd be getting hosed. At this point we're fairly inclined to say no to the deal, and instead see what other arrangements we can make ourselves.