I think OF is awesome, but it's such a DRAG how few people use it.
One area where Operation Fabulous has room for improvement is in the process a new publisher goes through.
Right now the process requires the publisher to get approval by adding the OF adbox (script) to the site where the ads will be published and to wait for OF staff to review it and mark the site as active. Then once that happens there are no paying ads being published until an advertiser bids a sufficient amount to get ads shown.
Until that happen the "inventory" is wasted. By the time that paid ads might start showing, the publisher might already have moved on to some other online advertising platform.
This is particularly a problem where the publisher is selective and chooses the "explicit approval" option in which only ads that get the publisher's approval are allowed to be shown. In review of the advertisers many are for sites that would be considered spammy, scammy or just not a good fit for the publisher's visitors. So the publisher generally should choose this explicit inclusion mode. But even then spending a few minutes looking at the list of ads from advertisers to include, the publisher sees these:
BiddingPond (has been "coming soon" for months)
Cash Cow Casino (closed, was a scam anyway apparently)
FXNet - Bitcoin Ponzi (really, it was a ponzi site -- taken down after MyBitcoin)
BitLotto - Win Big With 1 BTC (has been 0.25 BTC since August)
Ubitex (long gone)
BitMunchies (closed)
SquareWear (for the most part closed)
MetaCo.in (closed)
TradeHill (closed)
BTCOnTilt (closed)
and on and on.
So one improvement would be do so housecleaning and weed out the inactive advertisers.
The next might be to make it so that publisher can choose from the list of active advertisers in advance rather than not starting that process until after having already begin publishing the Operation Fabulous adbox.