eWhisper runs us through some thoughts on taking advantage of the new Adwords system. It's an interesting discussion even for me, as it talks about some very neat ways of using the new "no disabled keywords" to bid on high volume, low CTR words and phrases for branding purposes.

When talking theoretically in terms of launching a new product, he says

These campaigns are not about clicks. They are about impressions. Impressions are free. The ability to bid on these high volume keywords, even with a high min CPC, to create total impressions could be very effective. The ability to get a new product in front of potentially millions of people a day, essentially the same as a banner campaign (without the CPM cost), without worrying about disabled keywords can be very powerful.

Creating ads that bring awareness to a product, but do not induce clicks would be a skill in itself. How many new products would love to get 1 million impressions, 10,000 clicks (a 0.1% CTR, respectable for totally non targeted keywords) a day?

Re-enabling disabled keywords
There's also this little gem been posted that tells you how to bulk re-enable disabled keywords:

Use the find and change keyword tool to find all keywords on your account that have the inactive status. Bulk change the max bid price to a dummy amount, say 99 cents. Then do another search to find all 99 cent keywords and change them back to whatever price you had previously. This should now refresh all your keywords so that Google gives them another try.

As one member says though, the system is so new, many of these little workarounds may not last long...