Adowrds - Does single city targeting deliver ANYthing?

Hi

My Adwords campaign has been up and running for some months now, and the following are its features:

I target only one city in India.

I have several product lines on offer.

Some of my ads are for individual products, and are valid only for a week.

I do not advertise on the Display Network.

I am targeting positions 3 and upwards.

I am bidding pretty well - I can see this, since every time I search for my keywords I'm up there.

However, impressions are in a few thousands, but on the whole, my CTRs fluctuated between 3% and 4%.

Conversions aren't very high either.

Then,

I added a bunch of negative keywords - it worked, and my CTR went up.

I tried taking out "budget hoggers" from campaigns and creating whole campaigns around them - it worked, and CTRs went up.

2-3 days later, I had a CTR of around 5%.

But the next day, everything was back to normal. CTRs went down. Impressions are unbelievably low. My budget just isn't being used.

Am I wrong in

a. Monitoring the Adwords account every hour?
b. Expecting results in a day of making changes?
c. Expecting more impressions, since I target just one city?

Please help!