Having just read through this thread, and as only an occasional ebay user, I’m now convinced that sniping is the way to go. Why reveal to the marketplace your intentions to bit any earlier than you have to? Why allow nibblers or Bid Warriors the chance to increase their maximum bid and drive up the price?
I guess the only remaining question is exactly how common nibblers are. But even if nibblers participate in only 8% of auctions, surely that alone is enough reason to justify sniping? It provides a chance to lower the winning bid in 8% of the auctions you bid on, with very little if any downside. (Yes, equally high bids as well as preventing low ballers mean there is a slight downside, but I think we can agree that these events happening are very rare.)
And finally, if you consider that most ebay users in this thread seem to think that nibblers are much more common than 8% (I certainly do), it gives you a very compelling reason to snipe. It’s been said several times in this thread but for some it doesn’t seem to be sinking in: bidders aren’t rational. Therefore sniping is the way to go.