From what I understand you can use Overture and Wordtracker to see how many searches are made for a keyword. Is there a site to show how competitive the market is? Or how likely it is to place high in the market. Example: if someone searches “sex” the market is overrun and highly competitive but if someone searches “website babble” the market is empty. –is there a site to show that information?

I use Yahoo's total results as a marker. That's the big number they display to the right of your search (for example, "1-10 of about 176,000,000 for keyword x")

Then use the formula demand/supply x 1000 for the formula to determine your profitability. So for example, if Overture gave you the following results for a keyword demand...

blue widgets = 3,000
red widgets= 7,500
orange widgets = 2,000

Go to www.yahoo.com and search for the 3 phrases individually.

Blue widgets returns 4,480,000 results
Red widgets returns 7,340,000 results
Orange widgets returns 1,790,000 results

So using the formula Overture demand/ Yahoo supply x 1000

The demand for the three keywords are as follows...

blue widgets - .700 (rounded to the nearest thousandth)
red widgets - 1.022
orange widgets - 1.117

So orange widgets would be your best bet if you narrowed it down to those three keywords because it has the highest profit ratio.

There may be other ways of doing it but that's what I use.

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Severely Addicted to AdWords :)