Just read this excellent post over on techdirt (http://www.techdirt.com/articles/20080318/004136567.shtml) about how advertising is content and content is advertising. It helped me finally realize what has been bugging me for a while about most of the "product placement" going into TV shows of late (I'm looking at you The Biggest Loser - and you Destination Truth). If you need to place your product in a show, just make a show about the product.
It doesn't have to be full-fledged TV show. I just mean, make good content around your product and people will watch it. If you want to see some good examples of content that is advertising, but is entertaining enough for people to watch as content, check out ILoveLocalCommercials.com.
Want another example of something people have watched for years strictly as content, but is, in fact, advertising? Music videos. They are advertising for the artist's CDs, downloads, concerts, merchandise, etc. - and yet they are content in their own right. The best are entertaining to their target audience. In turn, the target audience (hopefully) wants more.
So, once again (and in a different way than this is usually meant) - content is still king.
