James, it's a good idea to have the category together with the forum thread title. However, it somehow makes it more difficult to read and slightly more confusing.
Is there anyway to make it easier to read - so one look at the forum threads, we know the topic of discussion? At the moment, it takes a little over a second to register the thread topic.
Otherwise, I think it's great! Having the ads somewhere else is good. Otherwise it really clogs up the homepage. People looking for stuffs can always click and go there. For most of us not looking to buy gears, the less cluttered look is easier on the eyes.