Hello iguess, and welcome to WebmasterWorld!
Some quick pointers on being successful with AdWords based on having supported AdWords advertisers for many years:
* Don't expect AdWords to be easy.
* If you are an affiliate advertiser, rather than a business owner sending traffic to your own site, expect it to be very competitive - and perhaps expensive. It is not an easy way to make money.
* Whatever type of advertiser you are, don't expect to make money right away. There is a learning curve, and many new advertisers spend more than they make as they learn the ropes.
* Do expect it to take a substantial investment of your time and energy
* Learn as much as you can, and find sources of information you can trust.
* I haven't read the book you mention either - but I would also recommend that you explore the AdWords Help Center and the AdWords Learning Center (as mentioned by Bob535.) Why? I think it is a good idea to read what the folks who designed AdWords have to say about AdWords, and how to use it effectively. (And, not incidentally, there is no source of information, of which I am aware at least, which is updated as quickly when the AdWords product changes.)
* Hang around this forum a lot, find people whose advice resonates with you and perhaps read their past posts.
I've got to get ready for a meeting so will stop for now and summarize:
An advertiser's success with AdWords' will depend largely on how serious the advertiser is about advertising with AdWords, how much work they are willing to do to learn how AdWords operates, how much time they can and will devote to managing and improving their account, etc.
If I had to summarize how well it will work in a very straightforward way, it would be like so:
* Advertisers who expect to very quickly set up their account and then forget about it - and who do not have either the time or interest to really learn how AdWords works - will almost certainly be disappointed with their success - or lack of it.
* Advertisers who make only a moderate effort will likely see a moderate success rate at best.
* Advertisers who take advertising with AdWords very seriously, who spend a substantial amount of time learning the nuances of how it works, and who spend a lot of time managing their account, experimenting, learning from the results of those experiments and then updating their account, tracking their Return on Investment (ROI) using the free tools available from AdWords, etc can find AdWords to be a very effective way to send highly qualified potential customers to their site.
A useful overview of tips may be found on the page linked to just below, which is one of my favorite resources on how to think about AdWords, and how set up an AdWords account for success:
* Tips for success
The topics covered on this page - which are essential to using AdWords effectively:
1. Identify your advertising goals.
2. Organize your account for maximum effectiveness.
3. Choose relevant keywords and placements.
4. Create straightforward, targeted ads.
5. Optimize your website for conversions.
6. Track your account performance.
7. Test and modify your campaigns to get the results you want.
I hoope that gives you something to go on. ;)