Wow, I'm surprised there's no fee involved with the feature. I may just have to experiment a little with it..
Thanks for the answers!
Oh, and Steph -- be prepared to be insulted quite a bit! Lots of people on eBay are looking for bargains. They figure they've got nothing to lose by making a ridiculous offer -- I'm sure some people accept them.
That reminds me. I know of one eBay store in which the prices are amazingly high. I looked through this seller's sales for the past 30 days and there are a whole lot of "Best Offer" transactions so apparently it works for some people. Maybe it makes the customers feel like they're getting a great deal or something when they're actually paying around market value?