Are there any good examples of really cheap (like $0.05-01 per click) working Google AdWords ads for a startup these days that have a good conversion rate?
Well, your ad position is determined based on your bid amount and your quality score.<p>Your quality score is based on ad text, keywords, landing page quality, bounce rate, and other factors.<p>So, I'm not sure what you're asking for (cheap keywords?), but it doesn't work like that...
It's going to be hard to find a CPC rate in the pennies as well as get good conversion rates. However, one thing you could do is target a smaller market.<p>For instance if you are selling a product marketed to auto body shops; start with say Dallas vs. the entire US.