If I remember correctly, you can have both of them but not at the same time on the same page IE: index.html can't have a Yahoo and a AdSense displayed at the same time, it's one or the other.
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Remember, pillage first then burn. Fredto's Random stuff - My blog.
Yeah the application part doesn't matter. You'll get accepted according to your site quality not the ads you show (unless it's a site full of ads) It's when you are accepted and how you use them that does.
Also remember the Adsense policy is that you can't show another contextual program on the same PAGE as Adsense not the same SITE. So you can have a site with YPN on one page and Adsense on another.
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