Google has launched Ad manager, which I think is somewhat similar to Openads. I just had a tour of this and have not requested for an invitation as I manage all my ads on my server and prefer to do that. If you are interested, you can request for a Google Ad Manager invitation here. This was something I was waiting for, but I had to set up mine as it was getting delayed. Now I have almost setup everything on my server and do not want to go for testing.

It will be useful for webmasters who sell slots of their websites for number of impressions

I just got this tour from the Google website into a single page

This shows the slots that you would like to sell for your advertisers

Generate code, HTML or JavaScript

Check for the availability of space

Create ads by uploading the images

Reporting will be good as they are the masters for ad serving through Google Adwords

Now the question is will this share all the details of your advertisers with Google as they are the No 1 Ad serving company on the world wide web through Google Adwords. Now we see major websites going for private sales of ads rather than Google Adsense as the revenue is much more in private ad sales