The whole Web 2.0 thing has produced a number of assumptions that a lot of people have started taking for granted. Among these is the assumption that there is no creativity in traditional advertising; all the creativity has transitioned to individuals who express it in the form of consumer-generated content.

It’s not hard to buy into this notion. After all, we use our DVRs to fast-forward through commercials we just don’t want to see, yet we readily watch the efforts of individuals who post them to YouTube. Blogs and books are dedicated to CGM. Joe Jaffe has built a reputation around the idea that marketers can no longer expect results through wanton upfront spends.

It’s silly, though, to presume there is no creative talent in the advertising business. It’s just that watching television in its linear format makes it hard to spot the creative gems among all the detritus. Which makes Firebrand, now in Firebrand such an intriguing concept.

I must admit that initially I scoffed at the idea of a website that aggregates mainstream television commercials for people to watch. But I have found the site strangely compelling, a first-class time-waster. The spots on display at Firebrand are inventive, creative, irreverent and just plain fun to watch.

The folks at Firebrand have ammassed an impressive collection of advertisers, including Coca-Cola, Geico, Trojan (with a standout commercial featuring pigs in a bar), Sony, XBox, Adidas, Apple, FedEx, Gatorate, Kellogs, Motorola, McDonald’s, Smirnoff, and dozens more. You find commercials by selecting the brand or choosing a genre (action, sports, animation, etc.). A few playlists are also available, like “Premieres” and “Firebrand Selects”. You can also select spots as your favorites.

As for interactivity, each video features a rating system and the ability to email it to a friend and to download it. There’s also a “Blog this Spot” link that provides you with the embed code and link to the video. A couple of links are disabled, including a shopping cart.

Firebrand is just entering into this public beta, so I’m not concerned about aspects that seem to be missing or some of the opportunities that haven’t yet been introduced. For example, commenting on commercials is a must-add. And just like I can compile a list of music in a Facebook application, a Facebook app that lists my favorite commercials on Firebrand would be cool, too. (Apparently, you can share your favorites on iTunes and a few other places, but I haven’t figured out how just yet.) Finally, there isn’t a way to engage directly with the advertiser (short of whatever the shopping cart will be used for); turning these ads into a two-way conversation with advertisers would take Firebrand to another level altogether.

It also sometimes locks up in Internet Explorer, although I haven’t had a problem in Firefox. These are the types of issues betas are designed to iron out.

But in its early beta, Firebrand is a lot more interesting than I expected it to be and reinforces that there’s still plenty of energy and creativity in those old advertising agencies we’ve all had so much fun bashing of late.