Here's the blacklist they suggest in their post, which they recommend "as a protection": http://ie.microsoft.com/testdrive/browser/p3p/google.txt
The "-d" lines block domains entirely, which I believe means this has the consequence of blocking Google ads entirely.
Err what? Why would disabling cookies disable displaying ads?
You seem to be overly concerned about Google being unable to track the browsing habits of some people.
http://ie.microsoft.com/testdrive/Browser/TrackingProtection...
Here's the blacklist they suggest in their post, which they recommend "as a protection": http://ie.microsoft.com/testdrive/browser/p3p/google.txt
The "-d" lines block domains entirely, which I believe means this has the consequence of blocking Google ads entirely.