I'm using Maximize Conversions as my Bid Strategy. Does this mean the Max CPC I set in the Ads Editor (formerly known as Adwords Bulk Tool) won't be respected? I see avg CPC for some keywords is $1.50 which seems very high to me (for these keywords), but I don't know if that happened before I lowered the Max CPC or the Max CPC is just ignored for "Maximize Conversions" campaigns.

Do you all recommend the "Maximize Conversions" strategy in general? A conversion is when someone uses the service (javascript event fires conversion code at the end) so it IS measuring what I want, but I get the feeling I'm getting ripped off in the progress. Dunno. Thoughts?