Hi Jeremy,

Yes, it is possible to generate reports of campaigns, adgroups, ads, etc. 
You would need to run multiple reports though. See 
http://code.google.com/apis/adwords/docs/appendix/reports.html for report 
types and relevant fields.

Yes, you can request various cost metrics by requesting relevant fields in 
your report. See the link above.

Reports are free, so it won't cost you anything to generate daily reports.

I recommend you start with the PHP client library available at 
http://code.google.com/p/google-api-adwords-php/. The home page has a 
getting started video, and the distribution has code examples that show how 
to do most of the common tasks. 
http://code.google.com/p/google-api-adwords-php/source/browse/trunk/examples/v201109/DownloadAdHocReport.php
 is 
a good place to get started for downloading reports. 
http://adwordsapi.blogspot.com/2011/11/discover-v201109-adhoc-reports.html 
gives 
a technical overview on using v201109 reports. 
http://adwordsapi.blogspot.com/2010/07/introduction-to-reportdefinitionservice.html
 and 
http://adwordsapi.blogspot.com/2010/07/discover-v201003-migrating-your-account.html
 are 
slightly older blogs on the same topic. There are some differences in the 
technical details in these blogs, but the basic concepts discussed there 
are still valid - especially for getting your entire account structure.

Let me know if you have more questions.

Cheers,
Anash P. Oommen,
AdWords API Advisor.

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