Just my 2 cents, but if you're not going to tune the ad text by location, this is precisely why Google has spent so much time creating these new enhanced campaigns. As the campaign runs, you can still see geographic-based reporting if your campaign targets different countries. But instead of creating different campaigns, you'd set bid adjustments for different locations to adjust the CPCs by region.
This makes the reporting marginally harder (you can still see this data in the dimensions tab), but if you're not going to take advantage of ad text by region, I think this is easier. Mainly because when you make changes to these campaigns (add/remove ad groups, keywords, ad text), you're going to have to remember to duplicate these changes across all the campaigns you've spawned. Also, when you want to start adding demographic and remarketing lists to your search campaigns (coming soon - currently in beta), you'll have to set that up and manage those bid adjustments for each of these campaigns as well.