My solution on Chrome is AdBlock, NoScript, turn off Flash, and turn off third-party cookies.
I prefer Firefox, which I additionally use CookieSafe, BetterPrivacy, and RefControl.
If you do not agree to send them data (config wizard first checkbox I think), is there still data sent to them?
Feelings are ok, but keep them for your friends and family. We need facts here, so please deliver.
For what it's worth, they have a clear statement in their legal docs about the data they send back (or the absence of such data, if you disable things like GhostRank).
Moreover, the source code is unobfuscated and can be viewed directly in your profile directory in Firefox if you want to audit it yourself.
I agree that any conflict of interest should be considered with care, but it would be hard for them to be significantly more transparent than they already are being.
Similarly much of the opt-out discussions as well as the ad choices icons are industry-driven.