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Looked into it, its a scam. They have auto bid bots pushing the bids. Its possible to get something for a $5 sale price that you spend $500 in bids on. You may already know this, but in case you didn't..
Oh yeah, I've watched it for a couple of days figureing out how it works.. and yeah, all auctions go up by $.01 per bid, with each "bid" costing the user an average of $.50-$1.00 each. Huge potential to burn through a hundred dollars bidding on something that you never get, so no benifit whatsoever. Hence I figure'd I'd burn through the "intro promo" bids they give you and then stop. If I get something cheap, great. If not, still not out anything but a little time.