Here's a good post from Google detailing a few of my favorite Adwords Editor Features.Inside AdWords: AdWords Editor's "Top 10 Favorites"
If you haven't played around with Editor yet give it a go.
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SEM/SEO, Internet Marketing, Technology, and Search
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AdWords Editor does have a nice list of features, the best one is the import/export. I create each of my campaigns, each containing hundreds to thousands of keywords, each with a matched ad, with the AdWords Editor tool called PPC-Max. Then I import it into AdWords Editor and upload it. The entire process takes me about 10 minutes or less and I move on to another one.
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