For example 'John Wayne'
The banners don't show up on the main search page, just on the Images page. I guess the reasoning is that people looking for images aren't going to be freaked out by banner ads.
There seems to be no targeting on general terms like these - 'Flightworx' has no relevance to 'John Wayne', and Car hire in the Canary Islands clearly has no relevance for a search on London - but for other, more commercial terms like 'Power Drill' you get shopping ads with a small picture, plus an ad promoting the Image ads service.
Read more about it here.
(Yes, I am using RockMelt. I like it...)