KeywordSpy is a new breed of keyword research tool in the arena and it is are downright powerful! You are able to see which keywords your competitors are bidding on and how much competition there is on each keyword. If your competitors are using this program you better as well, otherwise you will be left behind.
KeywordSpy is one of these new powerful tools. I have been using it and testing it out for the past few days and the results are jaw dropping. When I first started building campaigns it would take me a few days to build a targeted list of 2000 or so keywords, now you can build a targeted list within a few hours with KeywordSpy. Obviously not every keyword is a golden nugget and going to make you rich, but just seeing what the competition is doing allows you to steer your campaigns with a little more knowledge. In the affiliate marketing and adwords world, like most business, knowledge is power and the more you know the more you can make.
If you are looking to get in to the game using the KeywordSpy free demo will give you a pretty good idea of how it works. Check it out.