Keep it running until it gets disabled or receives impressions.
>What would you say is a minimum or average CTR for a keyword before dumping it?
Average CTR is 2%. As long as a keyword is running, then keep it. You may want to move it to a more relevant group though.
>What does average position (avg pos) really mean in a low budget campaign?
Average position is just the average position of the keyword, regardless of budget.