When using the Google Adwords keyword tool (which whilst far from being accurate is the best free keyword tool I have come across for at least being somewhere near the figures it claims) people are using the default 'broad' results.
When I was starting out I wondered why a site of mine - lets choose a random niche and call it gaming - wasn't getting the results adwords was telling me it should despite ranking well for the target words.
The reason is the results weren't exact. What you need to do, when using the tool, is use the small drop down menu on the right (it should say 'broad' right now) and select 'exact' instead. This will tell you the real searches for that exact term.
The difference is often marked. To take the gaming example we would be looking at broad results of
Nintendo wii - 11,100,000 searches
Wii console - 2,740,000 searches
BUT make them exact and you get
Nintendo Wii - 2,240,000 searches
Wii console - 550,000 searches
And it is the exact terms that you will be targetting with anchor text, keywording etc. Yes you will get other long tail keywords but your initial keyword that you are trying to rank for matters first and foremost in the exact search option, other searches are something you should integrate afterwards.
So don't get excited by the numbers you see in Google adwords when you first start, change your options and make sure they are giving you exact matches - things often look a lot different then.