It's often been said on this forum, that the key to sniping is to decide the maximum amount one is willing to pay, and then place that amount as a snipe. Bid histories tend to influence me to bid a higher amount than I originally thought the item was worth, which makes me feel like an indecisive nibbler. With that said, I confess that I have yielded to the temptation to look at bid histories, and I also confess that I have even yielded to the temptation to increase my "maximum amount I'm willing to bid" based on another bidder's "track record".
My strategy consists of deciding on a lead-time for my snipe.