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If you set up for your best conversions...then when you get your traffic working...you will benefit first there...
You can, in the meantime, work to improve your CTR for your ads themselves...
I personally believe that a good Click through Rate (CTR) is better. Why? Well, if you have a good ctr i believe you lower your cpc down. I viewed my statistics and I having a CTR of 12.50% for a keyword and Max CPC of 0.10 cents was only charged 0.07 cents a click! So i think a good ctr lowers the cpc. I think it might be better;)
Also from what i've read, in the industry, 1% is a good ctr(click through rate) for most. 2% to 3% is really great. Anything above that is best. So with 12.50% i think my cpc is good and it most likely in my opinion reduced the price. Oh yeah,... aserboni, i'm new to the Adwords system like you are:) I studied an ebook for a while before starting. Been doing it for a little while now. Just a little side info;)
Well, Talk to ya soon fellas:)