A number of AdSense publishers are upset and saying their revenue is down. But Google has tested this and evidently feels it will be good in the long run. Keep in mind they are also interested in making money and aren't likely to keep doing something that is not producing the financial rewards they want.
Google said this when they announced this change:
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In addition, this new clickable format better aligns with the text ad formats shown on Google.com. We hope this format change contributes to a better, more consistent user experience.
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It should be mentioned that for a long time the sponsored links on the right side of Google.com can only be clicked on the top line and nowhere else.
In April of this year Google made a change to the sponsored ads that are in the box above the search results to make them like the spondored links on the right side. Previously users could click anywhere in that box. Google changed to where only the top line could be clicked. Here is some of what Google said at that time:
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First, we thought it was time for a new look: after months of testing, we decided to switch the background color of the top ads from blue to yellow. Second, we've modified what counts as a click in this box to be consistent with what counts as a click for the ads on the right hand side. Instead of clicking anywhere in the box, users now need to click on the link in the top line of an ad in order to be taken to an advertiser's site.
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Inside AdWords: Two changes to how top ads are displayed
This illustrates that Google has some experience in doing it this way. In addition AdSense publishers are allowed two places for clicks with both the title (top line) and the URL (bottom line) as apposed to only the top line as it is on Google.com.
There are many AdWords advertisers who don't want to advertise on the sites and blogs of AdSense publishers. Possibly this change may encourge some of them to change their minds.
While some AdSense publishers report their revenue is down, others report an increase. That may or may not have anything to do with the holiday shopping season. It is much too soon to tell what the overall eventual impact of this change will be.