chaps - why not use ezsniper? It will do automated bid for you up to around 4 secs from the auction end, also by putting in a max amount you don't get seduced by that auction fever into paying more than it's worth. And others do not know you are bidding...oh the joy of a last sec win!!
+100
The only possible reason not to do this is if you're buying a expensive item and the % fee will be high.
Otherwise this is the best solution. Plus I think it is actually the most fair.