There's a lot of hype when it comes to Google AdWords and Facebook Ads. Many leading internet marketers will say Facebook is the far superior system.
The truth is we just don't know yet. The Facebook advertising system is still young. If you sign up for ads on there today you will see a lot of features that indicate "beta" and even a few disclaimers that say things like "this data may be inaccurate."
Google has years of experience with advertising and it's their primary income, so they have to get it right. Facebook approached the advertising concept completely differently than Google, and they made it much easier.
But with ease comes sacrifice. Facebook's ad system also only allows you to target people that are related or not related to your specific fan pages.
Take a look at Facebook if you are considering PPC advertising and want an easy setup. If you want a much more mature system and more flexibility, stick with AdWords until those Facebook "beta" notices are gone.