I like the idea of bigger banner sizes, but I have to throw in the old "use a banner that matches the design" argument (which GG brought up).
On one of the smaller TGPs, we put a small square banner on there, it's colors were a very good match for the backround color of the site. It has pulled some crazy hits, a lot more than expected.
I also think the fact that it is an 'odd' shape helps. I have always preferred using something like 200w x 400h over traditional 468 x 80
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