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I participate in a collectibles forum and one of the old biddies got her knickers in a knot when she saw the Auction Sniper banner on one of the auctions she wanted to bid on. She wrote a letter to ebay Support to complain(yadda, yadda, yadda..)that it was unfair and illegal. I am a newbie to sniping and have my first snipe in place. I think it is great..have been on ebay 4 years..don't think my computer could get in a bid in the last 5 seconds. It is still fair because the highest bidder will still win. Sometimes my better half is on the phone and I can't be online when an auction ends..this is why I love the concept.
Original Post
It is certainly fair. eBay even says so right in their glossary that defines what a snipe is: http://pages.ebay.com/help/basics/g-sniping.html

It all boils down to the fact that the highest bid wins. If they are worried about being sniped then they either ought to snipe themselves or bid their highest bid. They're just ticked because they tried to enter a lower bid and someone else came along and won the item.

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