For me it really depends what I'm bidding on. If it's something that I don't think will get many bids or something I will not under any circumstances pay over 'x' amount for, then I bid right when I find the auction. If it's something I really want and/or I'm not sure how much I want to pay for it, I'll watch the auction until it has less than a day left and then bid. Probably 80% of the time I bid with about 12 hours left. If it's something I'd be really upset to lose I'll come back and watch the end of the auction.
I've never sniped anything... tried once (it was something I really, really, really wanted), but someone else used a sniper too, and I still lost the auction.

I'll be the first to admit that when I've been outbid and come back in the last few mins of the auction to outbid the outbidder, it feels good that I got the item instead of the other guy... I just don't like using a program to do it. But that's just me.

British, you see, useless. I cannot get the equipment.