Hi Scot and welcome to the forum.
Whether Google AdWords is worth pursuing is dependent on what you plan to promote. Google has made some policy changes which threw some Google Cashers for a loop (that is where some horror stories come from) and others simply didn't have a good understanding of the system so they ended up losing lots of money (that's where the other horror stories come from).
However, if you have a great landing page/product that converts very well and you can find the sweet spot in AdWords, then I'd say it's worth it. My advice is that you be very careful and you keep a close eye on your campaigns.
~ Teli
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