OMG FINALLY! No need for root either
Adblock Plus
Works superbly in the browser (pages look a 100 times better, such a shame that ads have ruined the majority of sites nowadays and they also load even quicker) and blocks the ads in apps, but doesn't hide the place holders for the ads in some apps.
Only disadvantages so far is that the notification/app icon stays in the notification bar constantly and that it doesn't work on 3G (not a problem for me as I am always on wifi pretty much), I am sure that these will be sorted with an update at some point though.......
Will have to see if it drains the battery now......
I bet you that app developers & web site owners will be ****ed even more now!