Yeah;
#1 Fuck traffic KWC tells you. You don't care about what traffic the word gets in Overture or Google. You care about what kind of traffic you can get to that word from 7search or some other cheap ppc.
#2 Search for keywords with minimum sponsors of like 50 or so. Keywords with less sponsors than that can sometimes bring up nonrelevant bidders in your Adsense ads. And hence, lowering your CTR.
#3 Ignore the CPC values, but search for a decent "Average CPC". But keep in mind that even words with Average CPC of like $10+ are still likely to pay you only $1 or less.
#4 Use KWC in conjunction with the Overture Bids tool. They complement each other when the data you seek for one word isn't found in the other.
Hope this helps!