It doesn't matter how short the registration process is. As a consumer (I'm not speaking as a fellow developer here), I HATE IT when news sites and the like make me register with them just so I can read a story. But I do it, since I'm getting the content I need. But registering to WATCH A COMMERCIAL? No way.

This is a counterproductive measure. The seller must make things as effortless for the consumer as possible. Making someone jump through hoops to get at the content being offered is a surefire way of losing sales.