So I don't understand the complaint - you had the opportunity to bid on an item you'd never get the chance to otherwise, you know when the auction ends, you put in the highest amount you are prepared to pay for it, press bid and walk away - you log back in after the auction has ended (No chance of auction fever then) and if noone was prepared to pay that price you win!
I use the sniping tool regularly (It was especially handy when I was at sea) When an item i fancied came up for auction I would sit and consider how much I was prepared to pay for it decide on the maximum amount, set up a snipe and walk away.
I agree that for sellers Ebay is now screwing the a*se out of it.
But for buyers.........
On an online auction you have to have a timespan (a closing time) to enable the item to be on sale for a decent amount of time for everyone to have a chance. Can't see what the whingeing is about actually