What is John McCain smoking?

Or is it someone on his campaign staff who's doing it? And I'm not just talking about the weird wisp of smoke in the background during the first half of this McCain ad.

For example, what's the point of highlighting that his prep school's honor code included the admonition that students should rat on their peers???

What a bizarre ad! (Hat tip, Matthew Yglesias.)

Somehow McCain even seems bored speaking about his own life: