Some think so, and it certainly came off as cheesy and contrived as a campaign commercial.  Here’s the video again:

Now, personally, I think there are a lot of election/campaign laws that do more to restrict valid free speech from citizens and candidates than prevent fraud.  But, the rules are the rules and it certainly seems to me (by my understanding of the rather arcane and complicated FEC regulations) that Obama should have to pay for this campaign commercial like other candidates...or NBC should have to treat it as a campaign contribution.

Or, at the very least, other candidates should get equal time.