I just purchased the site and made a few changes to the ads. It gets a lot of google images traffic which is usually useless so I tried to make the ads as noticeable as possible to try and salvage some revenue from those users. http://tinyurl.com/n4vf98
Your placement is perfect specially if you want users to notice your ads and click on them if the find it useful. You can also run a 468 x 60 ad on the right side of the logo. Google image traffic is worthless and they hardly click any ads. Do let me know hows your ads are performing. Try to get Google organic traffic from keywords and not from Google images. That is the traffic that converts.
the ads placement is very good, and it looks perfect except one thing and that's the ads text n URL color. also use a wide skyscraper at the right side. Believe me, it will help alot..
Well I just bought the site the other day and the ads we're placed under the first 2 articles. I moved the ads to the top of the article, made them blue (that's supposed to increase CTR) and removed some of the clutter. I also removed some java script from the right nav that was scrolling and drawing users eyes away from the ads. Just doing that I was able to increase the CTR by over 150%. The site ranks well for my keyword in yahoo and bing. I just need google to catch on and it will be good to go. Thanks guys for all the help