Its pretty bad, but Ive seen worse. Slicer, if you downloaded version 6.0 of Ad Aware, theres a button you can click that will download the latest definitions.
Sorry but I should have told you all this before, but in a way it might have been a waste of time if you didnt download the proggie.
(Side note removing the elements found may cause some programs to cease functioning properly. Side side note: Do you really want programs that contain spyware? I know I dont

)
Delete all the crap that was found, then do the following:
On the Status tab, click Check for Updates. This will get the latest definitions. Once youve added the latest, we'll get to the deeper parts of the proggie.
On the left side, click the Scan Now button. Now, in the center click Customise. Click the Scanning button. Make sure that EVERY place you can have a green checkmark---has one.
This is a deeper scan than the Default scan. I ran the default scan the first time and came up with about 29 objects total. I did the deeper scan 5 minutes later and came up with 2 more folders, 2 files, ect.
Click the Advanced button, putting in green checkmarks where possible.
You should now be able to do a more complete scan. Delete any more crap that was found.
Two more good programs to have: Window Washer and Norton Utilities. These will help delete spyware, cookies (some cookies are spyware) and help keep your registry clean and healthy (especially Norton.)
Hope that helps. Once again, if it doesnt, let me know and Ill see what else we can do.