I've seen a TON. Awareness is definitely out there. So why haven't I got one?
1) Can't afford right now (bigger reason).
2) Not on Verizon yet. In the US, anyway, there are a ton of Verizon and Sprint customers and I'd imagine some of them just filled up on Android phones this holiday because MS and the OEM's weren't able to get GSM and CDMA devices ready for launch.
Then again, who knows how much this advertising campaign compares to other comparable product launches or how long this budget is for (just launch or for the whole year).
EDIT: Looks like the amount is analyst speculation and not something official from MS. http://techcrunch.com/2010/08/26/microsoft-half-billion-dollars-windows-phone-7/








