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Depends on how many adds, and whether they are something where you have to watch an video before going on etc.
If it's just an page with an ad here and there and you could just flip right by them liking flipping any other page, then I could deal with it. No different than reading a magazine--though I'd want the ads much less prevalent in a book.
With other apps, if it's some random utility I'll just use every once in a while I'd definitely take a free app with ads, over a paid app with no ads.
But I'd say in general I'm not a super anti AD person. They are the main way we find out about many products. The vast majority I have no interest in, but I'll sometimes see an add for something--be hit food, some new gadget etc., and want to try it out.
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