According to Google's AdWords Team, there is a new BETA for advertisers wanting to test cost-per-click site-targeted campaigns.
The new BETA will help advertisers with increased flexibility. If you are site targeting it allows advetisers to choosing the bidding option of most interest. In addition, it will be possible to create new CPC campaigns and switch between CPC and CPM.
This BETA is for US advertisiers only. Sign up here:
https://services.google.com/ads_inqu..._sitetargeting