A good article on some adwords experimentation. http://www.pbs.org/cringely/pulpit/pulpit20050922.html
If anyone cares for more Cringley, here is an interview I did with him a couple months ago: www.briandunning.com/1000questions/robert-x-cringely.shtml
Is that article implying that the maximum bid price is the actual price you pay? It doesn't really sound like they know how the Adwords system works. Really? Google wants to make as much money as possible? That's EVIL! Yeah, they did and it worked just like Google wanted it to.
I'd like to know what keywords this guy is using that generate 15,000 click-thrus a day at 0.10!!! I wouldn't be surprised if Cringely's "reader" is full of s**t. But I do agree with his assessment of Google: "It's like Vegas," said my friend. "They want you to lose. Try to game the system and they cut off one of your legs."
It's possible. I ran a test last week - brought 10,000 targetted visitors to a site in 16 hours with an average cpc of 0.04.
The real point it's not how many clicks you get but whats your ROI. I bet anyone can find 100,000 visitors tru adsence (with not really related keywords like DP example, or targeted keywords) at 5-10 cents or so.
Now you need a way to monetize random visitors at 10-20 cents a click, some start up capital and you'll be on your way to a small fortune.