You may or may not win by bidding in the last ten seconds. It depends on how high the other guy's maximum bid is. If you bid more than his max, then you will win. If you don't, all you end up doing is making what he ends up paying be higher.
As a buyer I think sniping is the ultimate goodness because people don't get any idea of how high you're willing to go and don't do that lame creep-up type of bidding to make your price higher.
As a seller, I hate sniping. I want to get as much as I can and sniping doesn't allow for bidding wars, which is what makes auctions cool. Either way, I'd rather that ebay implemented anti-sniping procedures, like pushing back the auction end time by ten minutes if someone makes a bid right near the end.