Pseudonym
Ivan Alias
Personally, I'm not a big fan of the Variable Powers (Shapeshift, Mimic, etc) that let you grab just about any power. They're balanced fine, they just slow the game down.
I play a character in a Golden Age game who's only power is Gadgets. Pre-planning helps a lot to keep the flow going. If you do go that route it is best to keep a few on tap.
Ditto what has been said about Action Points. As a player I tend to max out Luck whenever possible. As a DM, don't be afraid to let APs function as a "cool idea" point even if the rules don't necessarily allow for it. Spend a point, pick a DC and let things flow. Don't forget complications and their associated role-playing as a source for Action Points as well.
As Storminator said, make sure the players are all on the same page with the DM as regards the genre, and toss them out freely for keeping in genre as much as in character. That makes the game, and I'll agree that our Golden Age games is by far the best campaign I've ever played in.