The Monkey Shack

First of all, its not just $3 million. Factor in production costs, and the total to advertise in the Super Bowl can easily exceed $5 million.

But the answer to the question is, well, it depends. For FedEx, the answer was "no." The advertiser pulled out of the game for the first time in 12 years due to the "unprecedented economic waters." Even GM, who is still sponsoring the Super Bowl, will not advertise during the game, largely because everything they do with bailout taxpayer dollars opens them up for further criticism.

But despite the economy, many jumped into the game for the first time. Rookies include Denny's, Teleflora, and Pedigree. The commercials will also include innovative media buys, including a one-second commercial for Miller High Life pitching the beer as "good and honest at a tasty price." Frito-Lay solicited consumer-made ads and will air one during the game, even offering $1 million to its creator if it is picked number one in USA Today's Ad Meter. And DreamWorks will air the first ever 3D ad for its upcoming film "Monsters vs. Aliens" and is distributing glasses for the spot through partnerships with Pepsi and Intel.

Most of the airtime was purchased prior to December, when the stock market was still above 11,000 and a recession hadn't yet been officially declared, meaning some of the advertisers (and their media planners) might now be regretting their decision. Yet expected to draw just shy of 100 million viewers, the Super Bowl is still the biggest platform imaginable for any national advertiser and even boats a fairly reasonable CPM of $30. Not to mention the fact that this is one event where people tune in to actually watch the commercials and not TiVo through them.

I'll check back in on Monday and give my grades of the advertisers and my thoughts on whether it was worth it for them or not.

Enjoy the game!