An Epson Stylus Colour 600 printer I bought on ebay about 8 years ago, it had most of its insides stripped out and half a brick sitting in it, to give it some weight... 
These days, if you buy something from Ebay using Paypal to pay for it and it is THAT far away from its description, you better file a complaint and request the Ebay issue a refund.
In the past, I've been foolish enough to go back and forth with a seller and then accepted that fact that I've been ripped off.
But it doesn't have to work that way. Unlike a lot of you, apparently, most of the purchases I've made on Ebay have been good buys. Now I haven't always liked what the items I've posted for sale have brought, but the items I've received were usually in good shape and cost a fraction of what they would elsewhere. Even items I've purchased from Chinese vendors have arrived and worked to my satisfaction.
You guys must be doing something wrong. First, never deal with a seller with bad feedback. Second, pay via credit cards or Paypal. Third, if in any way the item you receive does not match its description, you're obligated to at least contact the seller and try to work out a solution.
But that obligation is only for one week. If you still feel that you've been taken advantage off, then move right on to a complaint.
Ebay and Paypal are taking the idea of buyer support very seriously now. As long as you've paid via an electronic method that can be charged back, if you've been defrauded you'll get your money back.
Frankly, I've found this forum to be a better place to buy than dealing directly with the seller like you might on Craigslist. I worry when I see posts like this as they give the general impression that a purchase on Ebay is as good as flushing your money down the toilet. My experiences would lead me to believe that either you weren't reading the listing carefully, making sure you were dealing with someone who was reasonably trustworthy (decent feedback scores, not a new seller), or that you didn't realize that a proper complaint would get you a refund.
I've seen Ebay do this out of their own pocket if they have to.