No it wasn't but with a CPM you can actually optimize the ads for better results since the click is the only real measure of successful ad placement. Everything else happens after a click, so getting to the click is the most important target.

As for %. They're bringing the customer, providing the tool, the payments and the collection of the money. All the publisher is doing is placing some code on their site. So 32% is actually a lot cheaper than a publisher hiring their own sales staff, buying their own ad servers, collecting and sorting the payment.

Just so you know.