I recently installed the new Adwords Editor 7.0 and thought I'd share my thoughts and first experiences of it with you. Although there is plenty to like about the upgrade, there is also one big problem that you need to keep your eye on. First the pros;
First page bid estimates: AdWords Editor now uses first page bid estimates for your keywords. Minimum cost-per-click (CPC) bids are no longer used.
Keyword Quality Score: The Keywords tab now displays the Quality Score for your keywords.
Keyword Opportunities locale: Tailor your keyword suggestions to a particular language and location by changing your Keyword Opportunities locale.
Campaign targeting in the data view: You can view your targeting settings in the new 'Language' and 'Location' columns on the Campaigns tab. These columns are hidden by default, but you can select them with the column chooser.
All of these are useful additions and being able to see quality score and minimum first page bids in particular will be very helpful.
Now the problem, the auto backup does not work! I learned this the hard way – most of my accounts were posted to Adwords so were safe and sound. However I was also working on one new account that had not got to a state where it was ready to be posted. So when I installed the new version of Adwords editor, choosing to backup when prompted, I was surprised to find that the account was now empty. Ok, no problem I thought, I just need to find the backup file and import it. However when I found the file it was empty. I was disappointed to find that all the work had been irretrievably lost (N.B. - this sentence might be laced with understatement).
If you are going to install the update (which I would recommend as the new functions look very useful) just make sure you backup fully and avoid the frustration of seeing hours of hard work evaporate.