@UncleBob and friends
A lot of people don't understand the concept of what a brand is and how advertising actually works, so from your standpoint, I can see how you think this would be a waste of money given that preorders are sold out.
The truth is that the bulk of Nintendo's advertising for the console launch to it's core demographic has already happened through PR events and allowing word of mouth and anticipation do the rest (which in large part doesn't cost Nintendo a thing and evidenced by the fact that it is already sold out prior to launch).
The reality is that core fans who bought up all the pre-orders are not the ones who are really going to be making money for the company, and brand awareness to the remaining 80% of the market (who will be supporting the bulk of it's profits) who will potentially be buying this thing (that looks and sounds a whole lot like the thing Nintendo already has in the marketplace) is their top priority at this point, and frankly, providing 100% clarity with National TV exposure to moms watching Oprah, Dad's watching football, and kids whose parents don't let them use the Internet that the Wii U is something new, exciting and something they should buy is probably the most important use of their money at this point.
You don't just launch a product without announcing it to the world on day one just because pre-orders have sold out. You need to build the brand, create a saturation of awareness so that you can keep it top of mind when others are considering other options like cheaper xbox bundles this holiday season. You can also be gauranteed that stores have limited their pre-orders to allow for some walk-in units on launch day to increase demand and excitement.
So in short, this is probably the most important action NoA and Nintendo-at-large should be doing at this point and the money spent is certainly worth the alternative of a quiet or failed launch. All eyes (including investors and analysts) will be watching this ad - it's very important for the success of this launch.