since podcasts are I think just RSS feeds of audio files (mp3 for those I’ve checked) the ads aren’t in any way marked in the stream. The only thing I’ve found is adjusting the skip buttons in antennapod so that skip fwd does 10 seconds, and back does 5; that seems to let me avoid listening to most of the ad; tap fwd until it’s back in material, then back once.
But I listen to a lot less podcasts; if I want hands- and eyes-free material I’m more likely to use TTS in my (text) RSS feed reader of choice, currently Feeder.
If you skip updates long enough, someone might find a security hole, and if you’ve skipped the update that fixes it, you’ll be able to jailbreak it, install koreader, read epubs without conversion, use the filesystem for ebook organization.
Also, you’ll avoid advertisements, which Amazon is now pushing to the homescreens even of kindles that were bought with the extra-cost no-ads option.