After the recent launch of New AdWords algorithm, reports are pouring in about unhappy advertisers who think the latest update is a new height of price gouging by Google. A good representative of such sentiments is the blogpost by graywolf on Threadwatch. like other updates in the past, this update has resulted in many advertisers having to pay more for their keywords. The timing of the killer update is not exactly the reason to cheer about either. Steve Bryant summarizes the thoughts of advertisers here.
Yahoo! is also planning to lauch their Panama update shortly. So advertisers don't really have a choice. But the level of transparency has been a concern.