Mr. Smith is right, these bozos are dead serious in their efforts to high brow brand their swill. When all is said and done, this will be considered another ad campaign of "New Coke" proportions. When will these overpaid fortune 500 clowns learn marketing 101: you find your niche, you define your niche, you defend your niche.
They only break out the clydesdales (sp?) for a Christmas ad or two these days. Why not simply stick to that? Everyone sees one of those huge horses, they automatically think Bud.
The main thing Bud has going for it now is the weakening economy. For the average American male, beer is a necessary commodity, beer taste is a variable depending on what he can afford. As the economy weakens, buyers will drop their Heineken and Sam Adams for middle class (in cost and taste) Bud and Coors, to save a few bucks at the checkout counter. All bud has to do is market something along the lines of "Bud is the best tasting beer of its class" instead of trying to rebrand itself outside of its class.