Just read this and is horrible news. Hopefully there will be a work around as the info is still kinda vague but it looks like getting a high CTR on an CPM campaign will cause you to be punished with less impressions. They are telling anyone using CPM and wanting to clicks to move over to a CPC version of the ad.
http://wisestartupblog.com/startups/new-facebook-ads-rules-punishing-cpm-advertisers/4467/
http://wisestartupblog.com/startups/new-facebook-ads-rules-punishing-cpm-advertisers/4467/