There are three different PPC managers who have all noticed a significant drop in the traffic they are seeing from Google AdWords. A Search Engine Watch Forums thread shows where three different PPC guys report as much as a 25% drop in traffic from Google AdWords.
Member Shmuel said, "Our traffic is down as well. We're only down about 10% impression wise while our conversion rate is pretty steady." Member PPC agreed, "Yes, I see this as well."
Maybe this is related to Google Turns AdWords Yellow & Changes Click Behavior? We already reported on the Impact of Yellow Google Ads & Click Through Change on CTR & Sales.
Overall, it appears there are now less clicks in those top ad spots.
The numbers reported in those threads seem to be consistent with the new thread. So maybe they are related?
Forum discussion at Search Engine Watch Forums.