This is true, Gary. Your Conversion Rate is just as important as your Click-Through Rate! There are 'tricks' to maintaning the CTR needed to keep your Ads showing at 100%... so if you are converting well for certain keywords, but struggling with the CTR, you can just make some minor changes to your strategy.
However, a good CTR is meaningless, as Gary said, if you arent converting. There are a lot of things to consider with your Adwords Campaign - in order to pull the highest profit