Have you seen the Solstice? It's even more puny than a Porsche.

And you're right, Transformers is not the best example, seeing as how it was specifically created from the get-go to sell toys. Much the same way that G.I. Joe did when they Shrunk down the original "Barbie for Boys" and turned him into a full blown line of action figures / cartoon. Thank Star Wars for that one. My only real fear about the Transformers movie, is that it will be a wild success, and some idiot decides to counter with a Go-Bots film.

And I'm not complaining, I'm just making an observation. Product placement has been happening in film almost since it's inception. It's just that now that the advertising methods most of us are familiar with are having trouble holding their ground, marketers and producers are far more aggressive in that arena than they previously were.
Another example - I don't recall the Fantastic Four driving around in a Dodge-badged Fantasticar, when I was reading the comics as a kid. But there it is in the new flick. It was reportedly drawn up by one of the Chrysler groups lead designers. Johnny Storm even asks Reed if it's "Got a Hemi in it?" to which Mr. Fantastic replies "Of course." Chuckle or groan, it's your call.
As for TV, originally they followed the model of radio at the time, where Sponsors often had their name right in the show - Texaco Star Theater with Milton Berel comes immediately to mind. It's even invading local news broadcasts, with more than a few major market stations having agreements with "Brand Brokers" for handling product placements in their lifestyle segments. Not to mention every ratings sweeps period is chock full of "news" that ties in with the affiliates' parent network programming.
Whether it's better or worse, is obviously a matter of opinion. Some people will say it's just another facet of capitalism, and I'm hard pressed to disagree with that assessment. While product placement isn't new, I'd say that is is definitely more prevalent now than ever before.