Doubleclick Search v3 has apparently been live since April this year, but this is the first time I'm hearing about it.
This is completely different from their original Search product that Google scrapped once it acquired Doubleclick. The AdWords engineers rebuilt the tool on the Google infrastructure so it's supposedly very fast and reliable.
They are offering the tool free of charge until April 1, 2012, at which point they will start charging a fee. Most likely a % of spend.
So there you have it. Google is going head-to-head with the likes of Kenshoo, Marin, EF et al. I guess we'll see a premium version of GA next.