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According to the official Google Analytics Blog, the first major update of Website Optimizer has been completed. One of the most important updates is a wizard for creating A/B split testing. The wizard claims testing setup quick and easy with results easy to view. Watch a demo. Experiments can be saved for later viewing and deleted when finished. For those unfamiliar with A/B testing, it's the easiest way to test different versions of Web pages to see which one converts better. For more about testing, read Website Magazine's article Testing, One ... Two ... Three by Rafe VanDenBerg from our August, 2007 issue.
For agencies, there is also a feature named My Client Center Access Manager. From the Analytics Blog, Now, with permission from their client accounts, agencies can access Website Optimizer directly through the My Client Center.
Website Optimizer is a free tool from the AdWords program. There's no reason to not use the tool if you're an AdWords customer.