How many commercial breaks with repetitive advertisement are you willing to endure?

From Wikipedia: Television advertisements appear between shows, but also interrupt the shows at intervals. This method of screening advertisements is intended to capture or grab the attention of the audience, keeping the viewers focused on the television show so that they will not want to change the channel; instead, they will (hopefully) watch the advertisements while waiting for the next segment of the show. However, remote controls have now made it easier for audiences to “tune out” advertisements simply by allowing them to turn down the volume or even switch channels when the advertisement comes on. In addition, Television recording mechanisms such as DVR and TiVo have also allowed viewers to skip advertising completely during television programming. In the United States, the TV advertisement is generally considered the most effective mass-market advertising format, and this is reflected by the high prices TV networks charge for commercial airtime during popular TV events.

In many European countries television advertisements appear in longer, but less frequent advertising breaks. For example, instead of 3 minutes every 8 minutes, there might be 6 or 7 minutes every half hour. European Union legislation limits the time taken by commercial breaks to 12 minutes per hour (20%), with a minimum segment length of 20 or 30 minutes, depending on the program content.

http://en.wikipedia.org/wiki/Television_advertisement

Do commercials improve our free market society and help our economies? Is watching (repetitive) television advertisement a waste of time? Are you sometimes annoyed by certain ads? What is the future of tv ads as systems like TiVo become more widespread?