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I've been playing with the trial and have found some appropriate keywords with many hits, but then see that there are 31,907 competing sites, so I think that it's probably not a good choice.
Since I've heard KEI is inaccurate, what sort of criteria should I look for when evaluating the keywords in Wordtracker ie. what are the minimum # of hits and maximum competing sites I should look for in a good key phrase?
Parry
Don't use the most popular, as they are too competitive and expensive. You want to choose the 3rd best used words, as this keeps costs down and it keeps you competitors away from the people that will search for you. Why do people always want to advertise anywhere near their competition?
Use Google Adwords as they have a keyword tool that tells you how many clicks you get, and the exact cost for each one.
Cool eh
Sort as of: less supply, high demand.
Compare with AdWords cost and predicted traffic: There you go!