does it just become a matter of who has the max. bid?
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Yes, with two (or more) snipers sniping the same auction, the only thing that should matter is who has the highest max bid.
Whichever sniper gets their bid in first would only matter if both snipers entered the same bid amount; then, of course, the first one in would win the item...OR in the rare event that one sniper would leave too long of a lead time to allow somebody to come back and up their max bid to (perhaps successfully) win the auction.
Hope that answers your question!
WarriorNun
"If you can't be a good example, then you'll just have to be a horrible warning"
Whichever sniper gets their bid in first would only matter if both snipers entered the same bid amount; then, of course, the first one in would win the item...OR in the rare event that one sniper would leave too long of a lead time to allow somebody to come back and up their max bid to (perhaps successfully) win the auction.
Hope that answers your question!
WarriorNun
"If you can't be a good example, then you'll just have to be a horrible warning"
The closest auction I ever saw was won by 1 second! Two snipers had bid exactly $600 6 and 7 seconds before auction end. 
chandnee,
And don't forget about ebay's bid increment. A lower earlier snipe can win over a higher later snipe.
And don't forget about ebay's bid increment. A lower earlier snipe can win over a higher later snipe.