1. You can't cover the ad banner on myspace, it's against the rules, and your account can go deleted. I don't know if there is an exception for major artists.
2.If you want to put an image above your profile, that's possible.
Use this code.
<style>
body div td td {height:400px; vertical-align:top; background-image:url(URL); background-repeat:no-repeat; background-position:center top;}
td.text td,
td.text div td td {background-image:none; height:auto;}
</style>
Upload the photo to a photo hosting site put the image's URL where it says URL in the parenthesis.
Note: the image will not show up on the Preview Page. Use SAVE ALL at the top instead of preview. If you have a band profile, use SAFE MODE instead of the regular edit mode.
You can also change the vertical-align:top; to vertical-align:bottom; if you want the navigation links below your picture.
if you need more width for your image, add this to the styles:
body div table table {width:1000px;}
td.text div table table {width:auto;}
if you have a band profile, you will need to add this to the styles:
.a {fix upcoming shows height}
td.text div * {height:auto !important;}