From their Inside Adwords blog
Enhanced campaigns help you reach people with the right ads based on their context – including location, time of day and device – without having to set up and manage several separate campaigns. For most advertisers, upgrading is a simple 3-step process. Already, advertisers have upgraded more than 1.5 million campaigns and seen strong results.
While many Adwords users might disagree it is the way of the future. Here is the Inside Adwords explanation of the new upgrade center followed by a screenshot which is a bit hard to see but you get the idea.
Today we’re introducing the upgrade center to make upgrading easier for advertisers with lots of campaigns. With the upgrade center, you can upgrade several campaigns at a time and merge campaigns together with just a few clicks. As the upgrade center rolls out to all accounts over the next few weeks, you can access it from the left-hand nav bar on the Campaigns tab.
So how does it work?
There are two basic ways to use the upgrade center.
1. Bulk upgrade
This option provides a fast way to upgrade multiple campaigns that don’t need to be merged. Rather than upgrade campaigns one at a time, you can select several campaigns, choose a mobile bid adjustment, view traffic estimates, and upgrade with fewer clicks.
2. Merge and upgrade
If you have search-only or search+display campaigns that have similar keywords and location targets, the upgrade center automatically identifies them as candidates to merge. You’ll then be able to preview and adjust the proposed campaign settings, ad groups, and extensions for the merged campaign. By default, ad groups and budgets will be combined. Other campaign level settings and extensions in the Primary campaign will override those in the Secondary campaign.
So while this is nice if you decide to hold off as long as you can you are only delaying the inevitable because the most important line of the post reads.
Starting on July 22, 2013, we will begin upgrading ALL campaigns to enhanced campaigns.(emphasis added)
Fight if you will but there is no stopping progress!