Whilst Dave was at Microsoft Search Summit, many people there were talking about how they felt Bing was giving them better conversions and improved ROI.
Now those thoughts have been backed up by The Search Agents, in this article entitled Bing Converts Cheaper than Live Search. In their study of their clients based on the last 3 weeks they found that although impressions had dropped 22%, the CTR was up 15%, Conversions were up 6%, Conversion rates were up 18% and CPA was down 3%. It seems Bings improved customer experience is leading to higher conversions.
This combined with the fact that Bing is stealing market share means Microsoft is really on to a winner here!