Matt, the problem is that you were trying to do everything with your ad.
From what I understand about ad writing, especially newsletter ads or say Google AdWords, you aren't supposed to try to tell the whole story (like your first draft to me was). It's more like headline writing where you are just writing a teaser. The real info should be on your landing page.
The idea of the ad is to get people to click through to your site.
And even then, you really don't want just anyone to click through. Only those that really want what you're offering. Which is where your conversion tracking information comes in.
If you'll remember the articles I wrote a few weeks ago about ConversionRuler, I talked about how many clickthroughs and sales I was getting for my own newsletter ads. You can learn a lot of tricks by looking at that information.
But in your case, the bottom line is and was to simply make sure you write a good teaser. Quickly address the reader's need, and tell them how you can benefit them. Make them want to click through to learn more.
Then you can sell them on the product. Not in the ad.
Jill