I have tested most of the tools out there over the last few years except the latest one from Webtrends, and I have to admit that nothing really compares to an analyst working on the account. Of course this has its own limitations but the main problems I found with using those tools are:
Negatives
1) Can't really understand the account, products
2) They can't understand the quality score of Adwords
3) They are expensive :(
4) They can't adapt to seasonality and changes in the consumer behavior
5) Most of the functions they offer you can find on Google Adwords interface
6) The can only work on very niche products or with a big brand on the destination URL :)
7) They usually tend to push all the budget to brand without thinking about long tail or generic keywords.
On the other hand some positives
Positives
1) You can use one interface for all three networks (on some tools)
2) Easy to use for reporting
3) Works great when you target is clicks and not conversions
4) Helps when you pitch to a business
5) Will highlight any issues with your links/adcopy/keywords quickly
The problem with not using a tool nowadays is when you go for a pitch and you try to explain to the potential customer that you don't use a tool, but an experienced analyst. The customer will look at you in disbelief and go for a company thats uses the latest tool that has its own algorithm blah blah blah. I personally think a clever analyst with some common sense and an interest in the products is far better than any tool out there. Of course technology develops and I am sure a tool will come out that works better than a human!