My thinking is most certainly not flawed. If you read my last post I have already accepted user B's inevitable victory in this auction. I was supposing that B hadn't got involved and pointing out that A bid once and then bid AGAIN because he or she wasn't winning as siweb's snipe had been placed too soon. As it happened A didn't bid enough to win anyway, but early snipes allow others to re-bid and can lose auctions.
In fact, in this case user B is a good lesson for others (including all at AS) about how to win. Of course you have to bid more than anyone else, but do it very near the auction end; and that's 5 seconds not 43!
I also don't need proxy bidding explained to me (thank you very much), and nor do I think that only the last bid can win. I do however think it's important to be a VERY late (and possibly final) bidder to prevent others bidding in retaliation (IT HAPPENS). Isn't AS is supposed to be about placing bids like that?