Lock in with Google Placement and Keywords

About a week ago Google launched the ability for advertisers to use placements within a Keyword defined adgroup. Although a first read of the Google help files on this can seem confusing it all boils down to this:

A high degree of control over the content network both in matching your ads and the price you're willing to pay.

For those new to Pay Per Click:
A keyword defined adgroup means that only your keywords are used to either match your ad to a search by a searcher, or to match your ad to content found on a Publishers website.

Placements allow advertisers to pick specific publishers (websites) and even sections within a publishers website to target.

Previously you had to run two campaigns a keyword campaign and a placement campaign.
Now you can run both within the same adgroup. Placements of course still only apply to content match only and never to any type of search related functions.

Whats great about this is that previously we had to rely on Google to use just our keywords and other elements to determine if a publishers content was a match for us.

Now we can improve this matching process by telling Google the exact sites and directories within a site to run this matching comparison on. Google first finds all matches for your keywords then effectively filters out all websites except for the ones you have targeted to run your ads on.

In addition advertisers can now control their bids for each of this placements individually. Previously one had to set one bid for content match and hope for the best.

THis new feature will allow advertisers to lock in just the publishers they want to use and turn off any new publishers from running their ads.

A couple notes for others using Adwords Editor (AE) to make vast changes for placements. When I read the FAQ it vaguely talks about being able to target not only sections but individual pages with the new system. I took this to mean that I could possibly target a specific page by entering it in as the placement location. In Adwords Editor, this is possible. No error comes up if you add multiple placements that include URLS that go beyond one directory level down. However once you attempt to post, then you get the errors.

So you still have to keep it to a single level directory. This is unfortunate as a great deal of websites use a convention of naming directories with at least 3 tiers.
website.com/consumer/
consumer/debt
consumer/loans
consumer/housing
consumer/debt/articles/greatarticletotarget.html

In this case we cant target the specific page we want instead we have to rely on the combination of keywords and placement at the website.com/consumer/ level. Google gives us much more control, but not that much control.

There are more questions that need to be answered which I will follow up with later.

How are you going to use the new Keyword / Placement features within Google?