It'd be accurate either way.
I have one difference of opinion with Ed Morrissey about this: the NRSC should get it down to 30 seconds, and set up the full video at its own dedicated website. It's one of the better campaign slams we've seen this cycle, and very good on its own merits - but a couple of minutes of air time is still going to be exorbitant. So, give 'em the teaser and let 'em check out the full thing online.
PS, OK, folks: you know the drill. This is behavior that you like, right? Well, carrot and stick, folks; carrot and stick. You can donate to Schaffer here, and the NRSC here. Remember, the latter was the one who gave you this ad, and awesome costs money.