I'll always prefer supporting them directly with subscriptions than going through a 3rd part to indirectly get them money, so no ads for me. If they offered other ways to help them out, like raising the price of subscriptions, or offering a premium+ subscription with a cheap trinket, or inflated store prices (do they make much/any off the store?) I'd be happy to go that route, but I'll always avoid ads if I can (at least if I can without ad blocker).
I have always found the ads entertaining. As long as they keep doing them the way they do them then I'll continue to actually enjoy advertising. Plus, doing the ads doesn't actually take time out of the podcast, because the podcast has no set length, so it only ever adds an extra minute to the start of the show. They also don't break a conversation to do the ad reading so IMO, there is no negative about it.
Quick question: I use a podcast app on my phone (WP8, app is iPodcast), does it count as a download for GB when I download it through this app. Do they get the money from it? Anybody know how that works?