This method is great and all... But, if you managed to make money, and I'm talking about $101+USD, not just recovering 1 buck out of your stolen $100. Why don't you go legit?
The OP said that this is method is for you to have money to learn the system, learn what works and what doesn't. I see you all so worried about not getting banned that I don't see a single GOOD post about actually, and in an effective way, to bank from your Adwords coupons. OK, there are a post of two about the crappy blog with the pretty-links. But you must understand what I want to make clear, and don't take this as an insult, and if you do, fuck off, If you learn how you can make some money out of this, do as the OP did, stop wasting time and go legit.
I used this method a while ago, I bought a number of coupons and all that Jazz, some went live, some accounts got banned, but the thing is I learnt from this. This method, in my personal opinion, should be used as a learning course, not a solid perpetual method.
Just think about the time lost waiting for the ads to go live (despite the fact that you are probably running multiple accounts over different sites), the time wasted getting banned and creating new accounts, the proxy, you know what I mean, If you are reading this, you've probably been there already.
If you made a campaign and banked (over your $100 stolen investment), go for it, that's it. Delete that campaign from the fake Adwords account and go legit, invest your money and bank.
You should spend time perfecting your ROI instead of not getting banned.
If it's still difficult for you to bank from Adwords, download a couple of books about Adwords monetizing and general CPC from this site, go and read every post that you feel is good in the Adwords section, etc.
I know this is a Blackhat forum, that is obvious, the thing you don't understand: This is also a Business forum.
In a way, I can almost agree. Then I think of Donald Trump and the slew of "his" companies that went totally bankrupt, liquidated, and left all the investors with 0. Who is worth hundreds of millions still? Trump, because he's the master of using Other People's Money. This method is all about using OPM to make money without risking your own. Like you said, it's a business forum too and using everyone else's money and very little of your own is definitely American business.
If people are getting vouchers and sending them to pages looking for $1 zip submits, yeah, they are wasting all of their time for very very little. If you are sending them to high commission products and especially products that are re-bill and may even have up-sells, you are getting a lot of $$$ for your time. The best part is you don't have to engineer your own Adwords campaign with your own money when you are testing to see how a very new product that just hit the market is going to do. You can take "risks" since your only cost is your time.
I agree with you that methods are only good if they make money and not because "Hey, I cheated this CPA company, Google, whoever, hahahahaha."
I can give you one example of how using this method paid off huge on something I wouldn't have used on my own money on: Google Sniper 2.0, a Clickbank product. I rarely do anything with Clickbank and much prefer CJ, Amazon or even Shareasale over CB. Yet, since I had a nice pile of .info domains sitting idle and vouchers, I dove right in despite how I think most IM products are complete shit and one day sales will suddenly plummet overnight because noobs will wake up and realize it's a scam. Well, Google Sniper 2 converted like a mofo and so did the upsells. Actually, it still converts fairly well today, but when it was released, OMG. If I had only the choice of using my own cash to test-out Adword campaigns on Sniper or not doing it, I would have not done it.