If the item is relatively inexpensive, I really hate to pay so much for shipping. It takes the fun out of getting the item that I wanted. Also I will NOT pay for insurance for anything inexpensive as (believe it or not) all major shippers have an excellent safe delivery record. (FYI, I ship and receive things daily, and I cannot recall the last time something was damaged. One LARGE $90,000(!!) shipment got lost for a day and a half, but still arrived safely.)
If the item is expensive/valuable I am willing to pay for insurance but still have never lost an item (coming or going).
I don't mind the item taking the slow boat around the African Cape...usually. If I bid on something it's because I will want it for a long time to come, not just for a week.
I DO want some things quickly (like my wife's birthday present, which I always buy the day or two before(!!)) and do like the option to ship quickly.
I've seen some good auctions where the seller lists different shipping options and prices. For example: FedEx Overnight: $12.50, UPS Ground (2-4 days): $8.00, USPS Parcel Post (8-10 days) $4.50. I like this as I make the decision as to how much to pay for shipping.