Greg Sargent has obtained some interesting new numbers which shed some light on the state of the race and the different strategies the two campaigns are employing.
McCain is on the air with TV ads in 11 states, which for the most part are considered traditional battleground states (Iowa, Missouri, Michigan, Ohio, Pennsylvania, New Mexico, Nevada, Missouri, Colorado, Wisconsin, North Dakota). Obama is on the air in all of those states, but McCain is outspending him in most of them, sometimes significantly.
Then there are another seven states where Obama has the airwaves to himself (Indiana, Alaska, Montana, North Carolina, Florida, Georgia, Virginia).
Greg has more details on the possible implications, which are not cut and dry.
Late Update/Correction: This post originally omitted Michigan and Colorado from the list of states where both campaigns are on TV. Virginia is a special case because Obama is the only candidate advertising statewide; McCain has a limited presence in Northern Virginia.