As a premium member, I don't have to see any ads, but on other sites, I don't mind the banner ads (cept the one that flashes "you are a winner"). I cannot imagine that they are tremendously effective tho.
My business wouldn't be benefitted by the internet since it's market is only 30 mile radius, but if it were a national company, I think I would be looking closely at better ways to advertise on the internet and I believe this is the best idea I have seen. As a local tv advertiser ($30k budget annually), I have always been fascinated with the idea of a 10-15 second commercial that people choose to see. It would have to be similar to one of those - fill out the card if you are interested and a salesman will call you with more info. If the customer is willing to make the effort to spend 15 seconds, you know the results must be better than unsolicited advertising.