Thanks terrellm. I'm pretty experienced with Adwords and know the options. The basic setup and possibilites is okay, but I'm missing simple and optimized testing reports, optimized ways to start new tests (without having to take notes) and so on.
I'd certainly be interested in discussing further as it sounds like you have some experience in Adwords and conversion too. I develop software and am always looking to share techniques on testing and improving conversion. Feel free to email me (info is in profile).