You could try Competition Dominator, I had a working version but it recently stopped and I just never tried for another copy...
It basically lets you "spy" on your competitors URL or chosen Market to see what other keywords they are using in PPC, it'll display the ads and all. I was just running it as a test before it stopped working, so I didn't get to record much data - I think the serial I used must have been flagged or whatever since I found it on such a widely distributed list.
It looked really good as I ran it against a local niche that I already had an idea of the competition by tedious, manual research and Competition Dominator came out with everything I had uncovered and then some.
I managed to get AdSpyPro which I hear is better than Competition Dominator, it's also floating around here, try a search. I think you have to upload ASP to your server though, I'm unsure.
Another option you could try is spyfu.com if you haven't heard of it. It's free, however doesn't return results if your niche/site doesn't get a lot of traffic, it works for larger searched terms.
