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http://blog.cre8asite.net/bwelford/2008/07/business-strategy-reality-check-google-adwords-keyword-tool/ -
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With the added value that Google has provided in their keyword tool the benefits become obvious once you experiment with it. The points you raised clearly illustrate that.
I'm a little surprised however that some actually claim to find the tool useless for SEO because the numbers are not very accurate. While this might be true in some cases, how accurate are similar tools such as Wordtracker or Keyword Discovery for which you have to pay?
Of those that complain, I wonder how many take the time to contact Google and other service providers to submit feature requests and provide feedback. I often do and am amazed at how open and responsive Google is at collecting and implementing the feedback they receive.
They have plenty of faults to work on, but there's a more effective and productive way to criticize and complain. Thanks for sharing both sides of the coin - makes for an interesting discussion!