You would think that the Google AdWords Editor, the one for the desktop, would allow you to manage more ads than you would be allowed to on the Web console. But I guess not.
A WebmasterWorld thread says that is not the case.
Whilst setting up a new campaign with 12,000 keywords and 1,000+ Text Ads (different creatives) we ran out of Text Ad quota!
This only happened on the AdWords Editor client.
Forum discussion at WebmasterWorld.