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It would have to be a truely amazing product to replace manually created ads.
A little concerned about the quality of the ads and keywords though.
There's some other information about dynamic serving of ads based on keywords, but I will have to dig up old e-mail on the specifics on that...
creative_line1 Creative Title. Must be 25 characters or less
creative_line2 Creative description line, must be 35 characters or less.
creative_line3 Creative description line 2, must be 35 characters or less.
My feeling is that if you want better conversion, you have to hire someone to write it or do it yourself. The data feed is quick and dirty, but you will need to write your own "creatives" if you want better results.
From the email:
The ad automator uses sophisticated technology to automatically create and target AdWords ads based on structured data feeds, which are nearly identical to the data feeds you submit to Froogle.
I used it for a few weeks - conversions suck. The tool is not ready for primetime.
Mind if I ask how long ago you used it? I wonder if they could have
improved it since... The last I heard from my rep was that they were
still tweaking the AA for certain types of product. At the time my
product type was not supported.