I can't stand smear campaigns, period. Not from politicians and certainly not from micro$oft.
I'm probably somewhere in the middle. I don't like smear campaigns... but I do like commercials/ads with a bit of jest.
For example, I always found the Mac/PC commercials to be a bit amusing, though not accurate. And the DuckDuckGo ads against google I don't mind. They aren't saying 'google sucks', they are saying 'google does that, we do this.'
MS with their Bing Vs. Google ads, didn't really bother me either. Sure, it looks like they turn off stylesheets for google and keep 'em on for bing, but that's their commercial. Their 'Scroogle' ad I found very distasteful.
That being said, I do like the commercial/showcase where they (MS) compares their phone with random people's phone in terms of camera. "hey, this phone has a cool camera, maybe you should buy it," is the kind of ad I can get behind. [Though, I wonder, that's probably more of Nokia's accomplishment than Microsoft's...?]
I guess it always comes back to the: different strokes for different folks thing. What works for one person might not work for another. Though, I do seem to find myself thinking the 'tile' interface on their phones (w7phone/w8phone) would be fairly convenient. But I can't ever seem to get behind it on my android device (with the w8 launcher).
/rambling