The only way to nearly eliminiate sniping would be for ebay to implement a system where a bid within a certain time of the auctions end extends the end time of the auction by a certain amount. This is the way traditional auction houses work. The auction does not end while there is activity until that activity dies down.
This would benefit sellers and ebay with higher selling prices. It would 'hurt' buyers who would end up paying more on popular items.
Ebay probably won't do it though because they are the most popular so if it aint broke don't fix it. Also, it might drive away a portion of their customer base who are looking for bargains who would go to auction sites that work the current way.
