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Google AdWords seems to me to be the best overall PPC-prgramm to use. However, for some vertical markets the quality can be very low. Just as an example I did some work on a casino site some time ago. We got no conversions from Google at all but reasonable conversions from other engines. This is not to say that Google searchers never gamble but for this particular site they did not.
In Europe you should take a look at eSpotting as they are very large here with a very good reach.
Also Overture, off course. They still have a good reach througout the most of the world - also here in Europe. However, Overture don't accept all languages, even though their partners produce many searches in those languages. That is the case for Danish and Denmark, where I live. We used to do 10k clicks a month for some clients through Overture on pure Danish keywords but now they say they no longer have an editor that can read Danish so they won't accept our business any more.
