First Page Bid under the shadow of Minimum Bid Ghost

It is a reasonably good time period that has elapsed after the launch of first page bid. Anomaly is that, some bizarre observation are still found with respect to first page bid. Minimum bid which earlier featured into our accounts showed minimum required bid for making the keyword active. Since, active/inactive of the keyword is no more an issue, the question is whether First Page Bid is actually the minimum bid for showing on first page or not. Logically, any keyword falling short of Recommended First Page Bid, should not show on first page, but Even ads diagnostic says showing even when you fall short of this bid. Also, you can manually see them on Search Result Page. Remember, earlier minimum bid shown in the account was sensitive to Landing Page Quality, but ad rank discounted landing page quality and it still does. So, what is this First Page bid. It is nothing but a mere projection of earlier minimum bid, actually nothing to do with First Page itself!