I don't think there's any secrets, but I'll relay what I do, then solicit your comments :).
Title: keyword phrase (which I know from the ad group)
Line 1: Attempt to qualify the traffic (i.e. 'Red Widgets', to get rid of 'blue widgets' traffic)
line 2: Call to action (Click here now! One Day Only! well not quite, but similiar).
Then I tinker with the text. I'll switch 'easy and fast' to 'fast and easy' to see what happens.
Anyone else care to share?
I don't always use the keyword phrase in the title if it is not exactly related and doesn't exactly describe what they will find when they click to my site. Because then you will find a lot of people will click on it just based on the title that catches there eye right away without even reading the whole ad. Then they expect your site to be about that. I don't want clicks if they are not exactly targeted. So explaining as much as you can in the short amount of space exactly what the visitor should expect to find when they click to your site is best. Even if it lowers your CTR to do so it is better for conversion and quality leads.