Keyword Competition

If a keyword has low advertiser competition but the cpc is still over 1. dollar and the search traffic is over 1500 a month.
would still be a good keyword to go after?

Very Nice read for sure - I am still going thru it to find my answer

It's better to check the exact, broad and phrase match type keywords competition and use accordingly based on the campaign budget..

I'm not sure whether your question went to the topic of whether you could rank for a word, or the point of whether the potential earnings would be enough.

RE whether you could rank for a keyword;
Just have a look at the top 10 results, and checkout their backlink profile. You'll quickly see how much work they've put into being where they are...

RE whether the earnings would be enough;
It depends entirely on what you're trying to do and what your plan is. Does a site that earns $X a month in exchange for X hours of time fit into your plan? And does this keyword opportunity look like that? If so, go for it. If not, find another