It's kinda funny, and it hits the swing issue of oil, but that's not what makes it good.
What makes it work is that they're finally personalizing this election. George Bush is unpopular (only partly deservedly), and so the Democrats personalize the election by making George Bush the stand-in for every Republican.
Nancy Pelosi is even more unpopular than Bush (and wholly deserving of that honor), and it's high time the Republicans made her the face of the Democratic Party.
And once they've done that, tie her around Obama's neck, too.
People respond to the tangible, not the abstract. (Even Obama's cultists aren't really responding to his meaningless abstractions about Hope and Change; they're just excited a super-liberal, good-looking black guy is going to avenge the many humiliations Bush has inflicted on them.) Make this election first and foremost about Nancy Pelosi and Harry Reid.