These are some of the things that were mentioned by various speakers at the conference.
If you have affiliate links that allow you to append your own tracking ids to the url, this would be a good place to use a keyword. For instance, your affiliate link would look something like www.affsite.com?affid=12345&trackid=keyword
If the bots are using a lot of bandwidth, check to see if your server supports gzipping your pages. It can cut the bandwidth by 75%.
You can now report spammy Adsense sites to Google. While on the spammy site, click on the Ads By Goooooogle link, and type just one word in the form - spamreport. Google will automatically receive the publisher id with the report and will investigate.
According to Mike Grehan, the text near the link is also considered when determining link relevancy (similar to anchor text). He states that 150 bytes on either side of the link is used.
And finally, I just had to show you the following picture I took of Barry (RustyBrick) while at the conference. Looks to me like is he on his knees begging for a link.