I must say that I don't really understand what the fuzz is about.
You can get the software for free, as in gratis. Yes, you need to put in a minimal amount of effort to do this, but there's no banner ads, and you're only going to see, what, three nags in your lifetime? Imho complaining about this is slightly arrogant, but okay - people are lazy these days

I think the way donationcoder.com is a lot more honest than those "freeware" apps that come bundled with adware (or "just" yahoo/google/whatever toolbar). And it's not like there's over-zealous nagging or functionality limitation. And I don't like the word "business model", it's more about the
community chipping in a bit to keep the idea alive - not to mention covering the costs of running a reliable, high-speed dedicated server.