See, my view on it is idon't mind in game adveritsing. As long as it fits within the game world.
Now i own rainbow six vegas and it has in game advertising. And i've heard a rather weird rumor, that theres an advert that comes up on one of the boards for the british navy.
Now why would a casino in vegas be advertising the royal navy? XD
Another point, i've already payed them for the game. So any money they make from advertising should go towards the game itself, i know XBL charges you at times for extra content, well, if a game is advertising in game, that money should go towards the content to make sure it stays free.
I see it as acceptable then. Gears of war actually got the discovery channel to sponser a map pack tokeep it free on Live. That is the only reason i see in game advertising as being justifiable.