If I bid $0.01CPM on BuzzCity targeting India, will I get millions of impressions per day or only a couple thousands?
Basically I am looking to test the opt-in rate of tons of images for cheap.
Is this a good idea? Any suggestions?
Well, that entirely depends on your budget... but I wouldn't expect the bid floor to ever give you a storm of traffic.
Just test it.

Do you mean $0.01 CPC?
I thought CPM on buzzcity can be outrageous. $9.00 for South-Africa... $2.00 for India.
Ya I think he meant CPC, CPM prices don't make much sense on BuzzCity.