Yesterday, WebmasterWorld moderator eWhisper created a thread named AdWords Changes: Minimum bids, No more 'on hold', etc.
In that thread he discusses his "interpretation" of the "info provided by Google." Basically, Google is going to be changing the way minimum bids work, how disabled keywords work, bidding works, the user interface, a new method for bulk upload and reporting changes.
Here is a quote from the thread on how the min bid will work:
Example: Christmas widget Off season, low quality keyword with low CTR, higher minimum bid. During season, CTR is higher, keyword is more relevant, lower minimum bid.
More goodies at the thread.