When people say frames are bad they're talking about pages that are being displayed inside frames or framesets and not a small banner sized iframe that is just seen as a blank spot by SE robots. You can place other text and links between the iframe tags for browsers that can't read iframes.
If it were between a remote script inclusion like javascript/php or an iframe, I would still pick the iframe.
And SeanLEE, people don't like the thread jacking in-your-face marketing tactics. Not many are going to respond well to that.
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