Ezra Klein is right, this is a really good ad.
As was noted at the Plank, in Presidential politics simply being associated with an issue may be more important than whether or not that association turned out well, so Hillary turning the '94 debacle into experience credits may work out well for her.
Also, I really liked the closer: "If you're ready for change, she's ready to lead." Like many primaries, this one has been divided between the "change" narrative candidates (Obama, Edwards), folks who are more on the outside and presenting fresh faces, versus the "leadership" candidates (Clinton, Biden, Dodd), folks who have been around for awhile and can claim credit as experienced statesmen and women who get things done. The tag-line, of course, links the desire for change to the necessity for a leader: "If you want change, I'm the type of politician who can make it happen [not just talk about it]."