Exciting expression of joy spread by promotional item (5)

I believe the answer is:
heady
'exciting' is the definition.
(similar in meaning)
'expression of joy spread by promotional item' is the wordplay.
'expression of joy' becomes 'hey' (I can't explain this - if you can you should give a lot more credence to this answer).
'spread by' means one lot of letters goes inside another (the word is spread open by inserted letters).
'promotional item' becomes 'ad' (advert).
'hey' going around 'ad' is 'HEADY'.
Can you help me to learn more?
(Other definitions for heady that I've seen before include "Potent, intoxicating" , "Extremely exciting" , "Inebriating" , "Impetuous" .)
