It seems to me that Ogilvy recommending a headline in all advertisements is different than using Twitter.

Bear with me: for example, in Basketball, it makes sense to have tall, fast, athletic players. Research and time has shown this to be the best way to win basketball games (i.e., use headlines, serif font). A zone offense or full-court press is a strategy, which may work for some teams and may not work for others based on the their team structure (i.e., Use Twitter, Facebook, etc.).

I think that this is difference between the Ogilvy and the point from Seth Godin.

And you’re right, Ogilvy was in a different landscape for advertising, when ads were often read and long copy made sense. But I still think that the fundamentals ring true (i.e., test your ads and research what was successful). Also, tactical maneuvers like drop caps and testimonials were proven to increase readership. Again, things have changed, but understanding why they worked is again important. Drop caps stand out. Testimonials reflect our follow-the-herd behavior bias.

I’m going to have to disagree about your last point, “If their were a perfect formula, every agency would be using it and every client would be demanding it…especially if it guaranteed sales.” David Ogilvy stressed this point repeatedly. Even in the 1970s, when many advertising schemes were proven to be successful, rarely did agencies or clients demand to use tactics that worked. For some reason, everyone sought to be “creative,” even though studies showed that their creative license caused poor performance. Ogilvy laughed at this absurdity, especially clients that ignored the facts. It supports why Ogilvy was so successful over the years.

Print ads for household disinfectant, a luxury handbag, and cholesterol medication should not all look the same. Advertising was a very different business when Ogilvy formulated his ideas.

This is a classic VW ad – rightly considered a great ad. It meets much of the criteria, outlined in your post. But would it be successful today, (even with a more contemporary font)?
http://www.old-ads.com/images/2007/05/19/vw_ad.jpg

This ad violates many rules: no copy, no brand in the headline, uses a logo, headline is before image, etc. etc. But is this a bad ad when you are selling the pure indulgence and sex appeal of an $80k car?
http://dailybiz.files.wordpress.com/2007/11/bmw_uou.jpg

If their were a perfect formula, every agency would be using it and every client would be demanding it…especially if it guaranteed sales.

As a guru once said: “The only way your organization is going to make an impact is to market in the way only you can. Not by following some expert’s rules or following the herd, but by doing it in the way that works. For you.”

Times New Roman seems to be dated…though it’s still used in most newspapers and books.

What does “drop initials” mean?

I find it interesting that he hates logos; I think they really do help brands . . .