I would probably be willing to play an ad-heavy MMORPG if it was free or very cheap, myself (being reluctant to pay subscription fees in any case). But that would only be under the understanding that those adverts were paying for my play, and if those adverts were in keeping with the game as a whole. I would also need to have full disclosure of what info was being taken.... albeit if I decided to accept that sort of vision monitoring, I'd probably try and use it to screw up the advertisers data.....
In the SWAT example they give, the ads seem entirely incongruous to the setting, though (are there really Battlestar Galactica posters for next week in the offices of dingy garages?). Unfortunately, adverts are designed to be as intrusive as possible - when given a place in digital media, that means they can be far, far more annoying than they could ever be in real life.
Not to mention in reality ad posters get a bit tattered, worn, etc, which advertisers probably wouldn't accept in a game because it would compromise their 'mipact'.