> The biggest problem I have with the argument about limiting the amount of money that can be spent in elections is that it essentially implies that the electorate is uneducated and easily swayed. So shouldn't the solution be a more informed (however you want to do accomplish that) electorate?

This is true in somewhat the same way that the solution to teenage pregnancy is just to get all the teens to practice abstinence. Where that view falls down is that not all problems are equally tractable. Attacking a tractable problem generally gets better results even if attacking an intractable one seems more noble.