Personally they are a miss for me. I honestly zone out because there's no focus or anything to draw me in or make me watch all the way to the money shot. Most of the commercials really have nothing to do with the player or any advantages it has. The first three basically are random shots of people socializing in a park, with some of them listening to generic looking mp3 players as a complete aside (to my eyes). The features that the Zune has that set it apart (large screen for video, wifi, landscape mode, comes in black, xbox integration, "social networking", etc) aren't mentioned, or highlighted. In fact, in watching the five spots, other than it's use for listening to music, I saw only one quick reference to watching videos (I think, it was a quick shot of someone turning it sideways, perhaps a reference to the landscape video mode) and perhaps a reference to the filesharing abilities by showing two zunes sitting beside each other.
The videos are very... "amateur looking". Not as if they weren't done professionally of course, but that stylized look. Definately focusing on the social aspects rather than the technology itself (maybe on purpose?).
Compare this to the iPod ads. They are a lot simpler, concentrating on the hardware itself and the enjoyment of music, or at least that's how I interpret it. Following the Apple simplistic style I particularily think that this U2 Video iPod ad is well done. A simple music video, and it just pulls out to show it's playing on an iPod, saying a lot.
Of course, I have a feeling most of the Zune marketing has been the grassroots kind that's over at ZuneInsider.
Anyway, I'm interested to hear what others think about the Zune marketing so far.