goodroi - 3:02 pm on Nov 21, 2011 (gmt 0)
I assume you are talking about the competition level in the Google Adwords tool. I would rely more on that than an allintitle search. Allintitle has issues with accuracy. Also simply being present in the title does not mean the keyword is in demand or being searched for by users.
For example let's say you search for a generic keyword like "the". There is not high competition to rank #1 for "the" and I doubt many real users would search for "the" but Google returns over 7 Billion results for allintitle.
If you are looking at the competition levels in the Google Adwords tool I would suggest you also look at the bid prices and the quantity of advertisers. The more people will to spend money, generally means the more potential there is for that keyword.