I myself is blocking only the ads that tracks my computer, but sadly alot of ads do that.
Of course it's ethical; you're not violating anyone's rights. You are supposed to control what happens and what you see on your computer, and I personally hate seeing something that someone paid for me to see.
The wonderful thing about adblock is that it gives you the choice of supporting the site or not. I let ads go through on this site, but have you seen the number next to adblock on facebook, jezus it gets up to like 50 ads on one page sometimes.
Not really. The company they sell the ad space to (I think it is google) just gives them a bit of javascript, which creates a div in the page and then they can put whatever the hell they want in there. Maybe there are some settings they can change to say, for example, 'please don't put ads inappropriate for minors' or 'our main audience are males between 18-35' buat as to the exact ads that you see, no they don't decide that.
I don't think they would try to get a law passed. They would go down the technical path first i.e. they would set up their websites so that if you blocked the ads you also end up blocking the content. This is not so common with banner ads, but I've seen it a few times with video ads. Still nothing to stop them doing it with banners.
Nothing wrong with blocking ads. Much importantly it could be used as a legit way to support projects that you might be enjoying.
In this day and age we have a great variety when it comes to online content. With Tek Syndicate being one of them, you have a choice of paying for membership (for those already out of mom's basement), keeping adblock on or turning adblock off for this site. I think this must be told to people that discover adblock for the first time. Who knows, we might start to see some consumer friendly content providers after all.
One problem I've got with ad blocking is that there still no easy (read: edit browser scripts) way to allow ads from specific youtube channels.