It’s that time of year again. Who’s in, who’s out? Who’s still in business and has an extra million or so bucks lying around for a Super Bowl spot? Why would somebody spend that much on one ad anyway?

On a pure cost-per-thousand people reached (CPM), Super Bowl ads are inefficient. So if you’re a hard-core numbers person, look elsewhere. But on an “event” marketing basis, the Super Bowl offers a number of important advantages. First, it’s one of the few shows people watch for the commercials. Second, because it’s sports and a huge event, most people do not DVR it and fast forward through the commercials. And last, but not least, media outlets (and bloggers!) post their favorite spots so if yours is a good one, it has the potential for additional exposure.

There’s also some research to indicate that sports viewers are more engaged with the content and therefore with the ads.

So who’s in this year? Alas, it pains me to report that GoDaddy will be back with two spots. I have no idea how scantily clad the actresses will be but I hear that Danica Patrick is reprising her role as the “GoDaddy girl.” Boy, I am so bummed I didn’t get that.

Bridgestone is sponsoring the halftime show again this year, which will feature a performance by The Who. That just happens to be my husband’s favorite band.

Anheuser Busch will be back. Monster’s back. Dorito’s is back with ads created by amateurs. Ad Age has the full list here if you’re curious if your favorite brand will be there.

Who will be talked about the next morning? Something tells me Twitter will be abuzz during the game with people loving or hating on the commercials — in addition to tweeting about the game. I’ll be curious to see if Twitter’s trending topics match up with post-game favorability ad scores.