As someone who works almost exclusively in Google for Adwords campaigns I was wondering if Bing had anything similar. I would imagine they do but as I do not spend a great deal of time outside of Google (per my clients request that I focus on the SE that will return the best traffic).

In my own experiences, Google adwords is definitely more effective than Bing adcenter. It brings more traffic in than Bing for its dominant traffics itself. :)

I have read, though, that Bing traffic is higher converting. I don't have a source for that, but it does not sound unreasonable.

I am going to do a search online to see if anyone has done a compare and contrast analysis of the available ad campaigns and if I find anything I will post it up.