If you do block an ad – and lose revenues that ad may have generated otherwise (or if you’re lucky, free the spot for better, more successful ads) – you will be able to select some feedback in regards to your reasons, Google says, which in turn can be check by the advertiser. Note with the Ad Review Center, you may also optionally choose to pre-moderate any new placement-targeted ad.
To see if you have this feature already, log-in to AdSense and switch to AdSense Setup -> Competitive Ad Filter. That much is old, but on that page you may one day find a new, green box with a link reading Ad Review Center (I don’t have it yet).
So, more choice is good, I guess. It might also be nice if Google would allow webmasters using AdSense to perhaps describe, in general terms, the kind of ads they want to allow on their site. Right now you can only determine the ad size, and whether or not you accept images, but you cannot, for instance, toggle options like “Flash allowed” or “animations allowed.” (And once the Ad Review option collects enough feedback from webmasters, Google could even offer an option in the style of “automatically block all ads which get blocked manually a lot”... sort of like a spam filter for advertisement.)
Update: Google sent in two screenshots, and I replaced the top image with one of them.
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