When the leading buyer of display advertising is a big name brand like Microsoft, there's room for excitement from the legions of interactive agencies that have been clamoring for a bigger piece of the premium pie. But if the old adage is true that you're judged by the company you keep, digital -- and Microsoft -- have a long way to go.

According to the latest comScore numbers, Microsoft bought more display advertising than any other advertiser as part of a push to promote its Live Search cash back program.

But just below Microsoft came the University of Phoenix (a display powerhouse), Experian Interactive (perhaps better known as FreeCreditReport.com and LowerMyBills.com) and United Online (which is pushing brands such as NetZero and Juno). While brands like Verizon and AT&T also rounded out the list, the leaderboard's decidedly lower-tier brands may have prompted this cheeky headline from All Things Digital: "Great news, Steve: We beat the dancing mortgage people for top display advertiser."

Steve is of course Microsoft CEO Steve Ballmer, and the dancing lizards shilling mortgages are the bane of many who work in digital. The problem isn't that the internet has provided a highly effective channel to startup companies, it's that mature brands haven't been as quick to jump on board as many in the space would've hoped. For many brand marketers, the internet has had a hard time shaking its reputation as a tech-heavy enclave for non-premium brands.

Whether display will turn the corner will largely depend on how many similar brands follow Microsoft's lead. But that brings up a larger issue for Microsoft, which has had trouble gaining a foothold online. Recently, Microsoft announced a $300 million ad campaign with Jerry Seinfeld as its pitch man to help the brand retool its identity for a Web 2.0 world.