I have successfully used KeywordSpy for uncovering competitors and their PPC keywords/ads/etc. KeywordSpy delivered on its promise.
I recently tried to use KeywordSpy to do similar research in a popular market (popular as in, many players, many ads, not a new market) for Brazil (a large country with long history of Adwords usage), but the results were disappointing.
For the very few competitors they did have data for (only 14), the data is incomplete. Days Seen is usually 1/0 for 80% of the keywords on 90% of the domains. That is statistically impossible. ROI was always 0 and Profitable Ads is always 0. Plus, the data seemed stale/old.
They had no data whatsoever for 25 competitors that DO advertise.
I complained about it and they didn't even apologize or tried to explain what was going on. They only issued me a refund and sent me on my way (not even a "we will work on this, try us again in the near future.")
Conclusion: KeywordSpy is worthless for the Brazilian market.
Has anyone here had success with KeywordSpy for PPC keyword research outside of the US/Europe/English markets? Besides KeywordSpy, which tools would you recommend for use in those markets?