I've been quite happy over the past few months. I discovered that I could get most of the traffic I wanted with a minimal amount of fuss using Google's new Broad Match Modified (BMM) match type. I felt like Baby Bear from Goldilocks - BMM isn't too loose, nor is it too restrictive. It's just right!
And like a happy bear, I was gradually replacing most of my phrase match keywords with their BMM counterparts.
I had never really used broad match - that was like putting all my money on the desk and telling Google to just take what it wanted. So I ended up with basically two types of campaign. Those using BMM and those using exact match. I like exact match... not quite as much as I like BMM - but for different reasons - It's badass.