I read about this method, applied it, and it worked a few times...It seems most people are paying anywhere from .10-.30 on average per click. I've found that using the CONTENT network instead of the search network, you can get the cheap clicks you're looking for. In my experience, gathering thousands of keywords is important, with at least 100 of them being high traffic. (Searched for at least 100,000 times a month)

Use IMAGE ads instead of text ads. Adwords allows about 7-10 different sizes I believe. Put up as many different sizes as possible.

Make sure you have a landing page setup that already gives you a good quality score from text ads.

Set your location to "All Countries and Territories'", or select as many countries as possible that you KNOW will convert.

Bid anywhere from $0.01 to $0.05...

Keep in mind this doesn't work 100% of the time, I've had this fall short before, but it seems with very big niches this works the best.

It really depends on what kind of product you are advertising.. I've managed campaigns for people who couldn't find keyword for less than 2 dollars per click..

I've been reading up on PPC and studying some of the things revealed by the people paying out thousands a month and the general consensus seems to be between .30 and .40 cents a click.
If you're marketing a MLM, using actual company names as the ad word seems to generate traffic and gets you out of the hassle of battling for the main key words, like mlm, network marketing, work from home, etc.