Google AdSense announced they have updated the design for the link units and landing pages that those link units end up on.
In short, the link units are now easier to read, have less keyword suggestions and are more spacious.
Here are before and after shots:
Before:

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New:

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As you can see, the difference is pretty noticeable.
They also revised the landing page when you click on the text links in the AdSense link unit to look more like the new overall Google design.
Forum discussion at WebmasterWorld.

Comments:
Anthony Trollope
10/11/2011 12:23 pm
The formatting feels very 'applefied'... should aid click-throughs, though!
Jeremy Myers
10/11/2011 12:38 pm
Love it! This will be great.
Kris Roadruck
10/11/2011 02:29 pm
if they want to improve CTR they will make the "ads by google" bit less noticeable.
Jeff77board
10/11/2011 04:15 pm
Google has some of the best ideas out there. I know that this will help get the attention of potential customers when they are looking for ads.
Lisa Hayden
10/12/2011 05:17 am
a positive step
Mani vasagam
10/12/2011 10:10 am
it would be nice ,if they unbold the text of Ads by Google ;)