In by far the best post I’ve read about the Google acquisition of DoubleClick, David Churbuck explains both where banner ads had failed, and how Google may revitalize them.  This is a must read for any publisher, print or online, and for all who advertise online. 

The only bit I think is missing is the potential link between Google’s Pay Per Action and the banner ad, which will represent a quantum shift in thinking for the online advertising.