Ninja
Hello,
I set up a test zone on one of the less-used areas of your demo website (publisher > Author Registration), and it seemed to register one page view = 1 impression.
A few quirks I've noticed:
When duplicating an existing ad, it seems to add an arbitrary amount of impressions to the Ad in the Ad view.
The impression count in the campaign report doesn't match up with the impression count in the ads view (there was only one ad in the campaign, so they should be identical)
EDIT:
One other quirk I've noticed: Clicks don't seem to register on your demo website.
Impressions will register right away in the report view, but clicks are not appearing.
This may be related to a Javascript error on your demo website -- You may want to correct this, as none of the ads on the demo are currently collecting "clicks".