I don't snipe, but it is kind of fun when you win that way. I think we all kind of like the feeling of victory, and sniping makes it more so.
If I really want the item, I put my max price in and forget it. If someone wants it more, fine, even by a penny.
If I'm interested in a bargain, I follow it and see where it seems to be going, then make a decision on what I'll spend and stick to it.
I'd say I'm about 50% successful getting either what I want or a good buy.
CL here is getting a lot more parts out there than it used to. It has it's own problems, but I like meeting bike people, and that's a plus.