I don't think I've actually bid on anything on eBay for a couple years. I just go for buy it now all the time, people are really dumb and seem to care more about winning then paying under face value.
I remember when the 5th gen iPod touches came out I got a free used 4th gen one, eBay'd it and it got bid up to $150, brand new 5th gens were $230. The price nearly doubled in the last 2 minutes.