I've just added a section within the Tips page under Social and Ad Networking that discusses what's needed to include ads from AdMob. I just updated Balloon-Boy with the intention of doing an ad supported free version. I grabbed code that I found in the Cocos2D forum as well as online. The biggest hassle was trying to figure out how to rotate the ad for landscape use, which was solved via a post that JD had made on another web site.
Anyhow, thought I'd share this code cause otherwise I think it can take some effort to put together.
Feel free to review and validate as well as make suggestions for any errors. This is working on my device, but I see a problem with the use of the nstimer in that I had to make sure to invalidate it prior to moving on to another scene. I'm planning on switching over to scheduler anyhow and will update the page once done.