sacX, this topic has been covered on WebmasterWorld in lots of detail in the past, but very briefly here are some headlines:
* The reason you don't see the content impression and clicks broken out by keywords, is that content ads are not delivered on the basis of individual keywords.
* Instead, an overview of all the keywords in the Ad Group is taken, and ads are delivered on the basis of that overview. In other words, your ads are put on a page of content on the same subject as the Ad Group, taken as a whole.
In light of the above, IMO, the key to success is to make sure that your Ad Groups are really targeted to one product or service. By this I mean that your keyword(s) and ad copy are about exactly the same thing.
And (again, this is just my opinion) a group of carefully targeted keywords, all about the same subject are better than a single keyword per Ad Group.
Hope that clears things up a bit.