As in almost all discussions, there are multiple sides to this topic.
I know that I have often obliged CR listmembers to overpay on items that they sniped, simply because if somebody was going to walk away with a "steal", it was either going to be me or somebody that I know. If I don't recognize any bidder, I often put in a bid for items that I have no need for. If somebody that I know is bidding I will most frequently refrain from bidding.
More than half of my bids are made early, but in these cases the items are usually merely "interesting" and not "needed". For needed items, I tend to favor sniping myself.
Steven Maasland
Moorestown, NJ
USA