Okay while we have been aware of this move for quite some time, Yahoo/Overture has to make sure and send out a late email. Granted this was from the Australian service so maybe it took some time for it to get there.
The letter was:
A new look is coming to the Yahoo! search results pages that will translate into more clicks for your listings. On March 9th, Yahoo! will debut a streamlined design that will make the search results displayed on Yahoo! even easier for consumers to read. Our research has shown that by improving the search experience in this way, advertisers can generally expect to see an increase in clicks, while maintaining their conversion rates.
How this change impacts your listings:
Yahoo! will display shorter descriptions for Sponsored Search listings
You don't have to make any changes to your listings; they'll be automatically shortened for you when displayed on Yahoo!
If you'd like to optimise your listings for Yahoo!, begin your description with one short sentence that includes your keyword and focuses on your most important information in the first 70 characters
Over time, we will fine tune the exact character count that we believe works best for advertisers and search users
Most of our partners, including ninemsn, Ansearch and AltaVista will still display longer descriptions for your Sponsored Search listings, though the exact length may vary from partner to partner
Yahoo! is taking this step to improve the search experience for its users. By continuously focusing on delivering highly relevant search results in a user-friendly format, Yahoo! also gives you the best possible platform for reaching customers interested in what your business provides.
Your Partners at Yahoo! Search Marketing
Now I know there will be a lot of people leaving that to Yahoo but it should be amusing to watch them screw up people's ads in the beginning... should be some laughs coming soon!