I'm sorry guys but I'd have to disagree. I find that when executed correctly, adwords is a fantastic advertising opportunity.
I will give you some of my tips, which helped me immensly.
1. Make sure that you do campaigns on a keyphrase basis. e.g. if you sell green, blue and red widgets
DO NOT put this as your advert.
Title: Widgets to buy
Line 1:We offer many widgets
Line 2 - Visible URL:hxxp://vvv.widgets.com
Line 3 - Actual URL:hxxp://vvv.widgets.com
instead run 3 adverts
Title: Green Widgets to buy
Line 1:We fantastic green widgets at trade prices
Line 2 - Visible URL:hxxp://vvv.widgets.com/
Line 3 - Actual URL:hxxp://vvv.widgets.com/green-widgets.htm
Title: Red Widgets to buy
Line 1:We fantastic red widgets at trade prices
Line 2 - Visible URL:hxxp://vvv.widgets.com/
Line 3 - Actual URL:hxxp://vvv.widgets.com/red-widgets.htm
Title: Blue Widgets to buy
Line 1:We fantastic blue widgets at trade prices
Line 2 - Visible URL:hxxp://vvv.widgets.com/
Line 3 - Actual URL:hxxp://vvv.widgets.com/blue-widgets.htm
When an identical "search phrase" is matched by the google advert the actual matched text e.g. green widgets is made into a bold font. This immediately catches the eye and makes your advert more clickable IMHO.
You also get a better CTR (click through rate) for each of the colours as the "most relevant" advert is showing. Therefore if someone was to type in "green widgets" or "blue widgets" the adverts look better suited to their search.
End of my little lesson but I hope that I've explained a little about how you should run a gadwords campaign a little better. If anyone has something further to suggest I'm all ears as I'm learning too
Stuey