Not too worried about the ads. Apple loves our lovely loot, yes, but they're also aesthetic snobs to the core and blinking banner-style bullshit is anathema to them. Predicting that the screen real estate ads can occupy and the manner in which they can behave will be tightly controlled.
I agree with that and suspect there is some pretty complex stuff going on on the device to make the switching look that simple. As far as iAd goes, from a business point of view it's a hell of a move. Apple gets a shot at being the Google of the mobile computing sphere while at the same time attracting more developers and further extending their lead in apps, which as Jobs casually noted are increasingly to smart phones what the Web is to PCs.
Despite my moronity, I did manage to get a 802.11n router set up in the house today to see if it improves performance much over our current b/g network. Initial verdict, better but not a huge difference in terms of speed. Now need to see how range is affected..