1 is some what confusing if you put any menu also otherwise its fine IMO 3 no problem because that you can see in lot of sites similarly
First of all, "please review my webSITE" ok. Ad placement seems OK to me. However here are suggestions. Ad 1 seems fine. You might want to make the ad 2 vertical (like 250 250 button or 300 200 button like ad 4. Ad 2 seems OK though you might want to experiment with 4 links since in that case the spacing will be better. Finaly why not place 2 and 4 above the fold rather than below. Or place 2 below and 4 above the fold. Experiment and tell us the results. One more suggestion, when you place 4 above the fold, y not make a change to the background color and all. Look at my site on the sig for ideas on placement.
Your ads are well placed and it's matching with google TOS too don't be worry but try to:- *-* make the Back ground and the border color matching with your site back ground. *-*Make your ad fonts more visible as to make the URL color (000FFF) and make the title relevant to your articles tile and the text like the site font too... this will help you alot