Faceook PPC – any good?

I have checked and see Facebook coupons dicussed in threads but didn’t notice Facebook PPC. Apologies if has been covered before.
I am wondering if anyone has any real sucess with Facebook PPC.
So far I think:
1. Much cheaper bids than Adwords.
2. Not so easy to monitor that stats and benefits than adwords.
3. Godo for targetting certain geo-demographics but hard to really target people specifically as the keywod could be in their profile etc but not really relate to waht you want.
Any thoughts?

See original post by PaulSymonds