CGM, Traditional Ad Agencies, and Video-Inspired Renewal?

As I note in my ClickZ column this morning, it's been "fashionable lately to trash traditional ad agencies for being out-of-touch, out-of-the-loop, out-to-lunch, and missing-in-action on all things relevant to our unmistakable digital and 'conversational' reality."  But maybe, just maybe, that's too simple.  Maybe the advent of online video is represents a fresh opportunity for traditional agencies to reinvent themselves, and in the process, leverage and exploit their core strengths: story-telling, emotional bonding, branding.  And maybe, just maybe, consumer-generated media (CGM) is the best thing that every happened to the traditional agencies because it's demonstrating that long-form story telling has a world of potential and stickiness.   My piece, entitled "Will Video Save the Agency Star," articulates a number of reasons why I think agencies have a fighting chance.