e.g bid in golf terms - landing page is all about "golfing holidays" - a perfect example of low cost adwords and high paying adsense if the page is targetted to golf holidays

So what golf keywords cost 0.05c a click?

thats for you to work out , this area also performs well in profit even paying 0.10cents a click

I can see it working. I don't know what the ads would pay for golf holidays, but let's say they pay $1 for easy math. My guess is they may go for more and Jeff could probably shed some light there. You bid for a long tail gold keyphrase for $0.05. The people clicking on the ad to your site have shown an interest in something related to golf. If one in 20 clicks on the ads on your site you break even.

1 in 20 is a reasonable 5% CTR and this is all assuming $1/per click. If you work this with a topic that generates $5 or even $10 a click it would seem to be easily profitable.

I do think Google is cracking down some on this type of bidding/serving ads so it may mean it's going to be harder to find those $0.05 and $0.10 keyphrases, but I would think there are still ways to make this work.

Not necessarily something any site can do, but one with the right topic and some research on the bidding it could prove successful. I'm sure Google will never be happy with it though so it may only be something that will work short term.

don't ever think your web site will make lots of money or you'll have heavy traffic overnight because offers like those are just scams