I snipe sometimes. Sometimes not. But phleeeeze dont start a discussion about whats fair, noobish, crazy and what not. There is no such thing as a crazy bidding war. If you have the money to pay more than the item is worth then be my guest. The bidders in question could of course refrain from bidding and let a veteran bidder take the item for next to nothing.
I have been at so many auctions where people looked at me as if I was some kind of insect, because the snatched their item from under their nose. All they had to do was put in a higher bid. It seems that if you have the money to buy a good item at a fair value you piss off the people who turn up at the auction with the expectation of getting everything for nothing.
Lets not forget that there is a seller involved too. Items are sold at value - sometimes less if you are lucky - but dont expect gifts!