Real world experience and opinions/feedback welcome.
We spend about $35k/mo on AW right now, FWIW.
Look for someone who
a) doesn't rely on Google's Traffic Estimator. G.T.A. is broken and anyone who relies on it can't possibly hope to find all the revenues for your campaign
b) has client references who have good, credible things to say about the firm's mgmt of spend on Google
c) can tell you what the last 3 major changes to AdWords were and how they affect advertisers
-Shorebreak