Definitely a higher payout per click with Adsense Search (at least so far). Take today:

Page impressions Clicks Page CTR Page eCPM [?] Earnings
AdSense for content 107 16 14.95% $15.06 $1.61

Queries Clicks CTR eCPM [?] Earnings
AdSense for search 10 6 60.00% $160.65 $1.61

Basically making the same $$ as adsense for content, but with less than half the clicks (highlighted in bold). This has been the typical trend over the last week... which probably isn't enough time to come to a solid conclusion.

I'll wait another few weeks or so and then try to remember to update this thread.

That's kind of what I would expect. People searching are naturally in search mode and so will likely click on one of the results. My guess is they often click on the first link in the results which would be one of the ads too.

I wonder if people will click a result, not like it, hit the back button, and click on another ad.

I think I should try it sometime to see the result over a long period. I guess it may turn to be rewarding.