Well known to you are the useful pay-per-click admin tools of Wordtracker and Overture along with AdWord Accelerator. These tool help evaluate and set up keywords, bidprices and find the top performing ads. Lets look at some others that have attributes that make them singular and a valuable asset. There are two: Keywords Analyzer (www.KeywordsAnalyzer.com) and Adword Analyzer (http://www.adwordanalyzer.com/).
If I were to look in your toolbox out in your garage, most likely I would find both a flat head and a Philips head screwdriver. This is like your keyword tools. The same way you need more than one kind of screwdriver you need more than one keyword tool. Individually they have their strong points but together they represent an entire set of tools, not just two screwdrivers.
There is no end to learning though. Whether your keyword list is long or short, the first one will most likely be missing something. A major search engine company once reported that out of total searches 20 percent were wholly unique. People search for all kinds of things and use an unlimited variety of words. Therefore here are some out-of-the-ordinary notions for you to consider:
Keep your keyword list filled with synonyms and similar subjects so you know you will be able to let people know that you have what they want.
Though you will have to deal with copyright headaches, you can attempt to bid on brand names. Google has dealt with many legal issues just for allowing AdWords users to bid on brand names. Even still, company names, periodicals, associations, well- known people, and well-known places may just be relevant to your advertised goods. Two examples are "Buddy Rich" for "drums" and "Jeremy Jones", the well-known pool player, for "billiards".
Misspellings are a big opportunity, because so many advertisers don't bid on them, and the clickthrough rate is often higher. For a Lord of the Rings promotion, "Tolkein" (misspelled) got twice the CTR of "Tolkien" (spelled correctly).
LexFN.com is an effective website used to enhance pay-per-click management. It is a complex thesaurus that utilizes internet technology to search out arrays of related ideas and synonyms and compile them into your keyword list. So you aren't just stuck with the common version of a word like WalMart but you will have variants like Wal-Mart and Wal Mart. "Expanded phrase matching" offered by Google will try, and often succeed, to duplicate this for you. Those click will most often cost you more than exact matching just the way folks type it in.