In order to know which keywords to target, it's essential to not only understand the demand for a given term or phrase, but also the work required to achieve high rankings. If big brands take the top 10 results and you're just starting out on the web, the uphill battle for rankings can take years of effort. This is why it's essential to understand keyword difficulty.

Here’s where this tool’s value really comes in: Keyword Tool has keyword research tools for multiple search engines, not just Google. If you want to do keyword research for YouTube, Bing, Amazon, the App Store, or eBay, they’ve got keyword suggestions (and data) for you. If YouTube videos, for example, are a central part of your marketing strategy, this could easily be worth the money.
Once I have a list of phrases, rankings, and volumes from these tools, I'll look to internal tools (maybe Excel, Access, or another database) to organize, classify, and forecast opportunity. This is where I'll estimate a competitor's traffic based on volume & position CTR, set goals for a target position, and estimate traffic based off that position's CTR and keyword volume.
Depending on your topic / vertical and your geographic location the search engines may have vastly different search volumes. The tool can only possibly offer approximations. Exact search volumes are hard to find due to vanity searches, click bots, rank checkers, and other forms of automated traffic. Exceptionally valuable search terms may show far greater volume than they actually have due to various competitive commercial forces inflating search volumes due to automated search traffic.
Spencer, it seems like you got out at just the right time and made your money? Seeing as Google has basically stopped giving access to their free keyword tool. I own the FULL lifetime license $290+ I think is was. Now Longtail Pro is useless due to the restrictions that Google has put in place. Do you know what the future plans are for Longtail Pro to get around this issue that I’m sure everyone is facing? Or can you get some feedback from the new owners?

I want to share how and why I sold the company in order to both educate and inspire potential software entrepreneurs.  I certainly don't know everything and obviously companies sell for much more than I sold Long Tail Pro for (I won't be featured in Tech Crunch anytime soon); however, I'm willing to share what I have learned and hopefully that can be beneficial to a few of you.
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