I don't exactly use an adblocker. I use Mozilla Firefox, and block pop-ups of course. And I occasionally block images for ads that annoy me, especially for sites I regularly visit. I also have an entry in my userContent.css that blocks all Flash and allows me to view the Flash only by clicking on it.
I've tried some stylesheets that attempt to block ads, but they have broken to much for them to be useful enough. Most ads don't bother me too much, and I just mentally block them. The Flash ads are the most annoying, but I never have to see those.
It is very rare that I follow an ad link. Although it has happened. I would be likely to click on an ad for a software development tool. I think the ad on overclockers.com for heatsinkfactory.com resulted in me purchasing from them, but it could've been somewhere else. I occasionally click on a Google ad (text ads are much friendlier than banners). But in general, I ignore ads.
As for advertisement as a means of supporting a site -- for the most part, it doesn't seem to be working from what I've heard. At least not enough to cover the costs. The days where you could put ads on your website and rake in money are over. I'd like to hear from the people running the sites, though. Are they even breaking even from the ads alone? A lot of sites offer subscription (for extra features usually) as a means of revenue. Maybe the cost of hosting has gone done so maybe its easier to break even, I dunno.