WordPress is the only blog tool I've worked with, so I cannot really compare it to others, but it would seem entirely capable of what you are describing. As far as ease of customization, that wll depend on what you want to do and your particular skills with PHP and/or HTML/CSS. If you want to build your own visual layout from scratch, you might want to start with the "Sandbox" theme as your starting point.
As far as ad rotation, the answer will depend on your exact requirements; but if you search these forums for "ad rotation" or "image rotation" you should find a number of discussions on the subject.