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This is a great idea. I would add one more test. If the keyword you plan to break out to a new ad group will have an ad that is different than the existing ad then go ahead. If however the new ad is the same as the existing one it is best to leave things as they are and save the extra management overhead.

I just realized that I did a post dealing with the same issue from a completely different angle. You may find it interesting: http://www.aims.co.il/blog/google-adwords-ab-testing-mistakes-you-should-avoid/

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