In the 21st Century no one can hear you advertise

With the onslaught of "new media" solutions being developed by ad agencies blurring the line between agencies and places like Disney, Google and Apple, are ad agencies really just that-advertising agencies? Are they something more? Something less? Creative companies? Is it all just semantics? I ponder these thoughts a little bit over at Karsh\Hagan's blog, give it a read and chime in with your thoughts.