Dave -
I have no doubt that sniping will save you some bucks
if you're the fastest gun at the showdown and
if you're not going up against other proxy bidders.
I guess it comes down to what your goals are for a particular auction. I've only purchased a handful of items, and each time it was something I had an immediate need for and I either couldn't find it elsewhere or I couldn't find a decent price. After my first few unsuccessful attempts with manual bidding, including sniping at the very end, I not only failed to acquire the item, but got myself somewhat stressed by the experience (sometimes it doesn't take much /w3tcompact/icons/crazy.gif). A couple of times I even forgot or was unable to be logged in during the closing moments.
My strategy since then has been to first find the very best price I can through various discount houses, classifieds, etc. If I can't find the deal I want, I then use the information I found that way to determine my own "fair" price for the item. For example, if the best discount I can find is, say, 20%, I'll probably knock off another 10 or 15 percent and enter that as my proxy bid on eBay, provided eBay has a new or like-new unit of what I'm looking for.
In other words, I'm not focused so much on paying the least amount possible (don't tell my wife), but rather paying a "fair" price that I can feel good about. Proxy bidding has done the trick for me about 3 out of 4 times with no sweat, anxiety or stress. Don't have to remember or even be logged on, either -- I get notified by email soon enough. /w3tcompact/icons/wink.gif
It may not sound like it, Dave, but I'm actually agreeing with you, mostly. I just think proxy bidding has some good points, too. /w3tcompact/icons/smile.gif