In most bidding systems, you get the name for the price that the
#2 bidder is willing to pay plus one bid increment. In this new enom system, you get the name for the max price that you are willing to pay. Big difference.
I have said this before, but it bears repeating: The profits in expiring names are shifting from speculators over to the registrars. The registrars have gotten organized and formed the Domain Justice Coalition (a loaded, misleading name if I ever heard of one -- the group is looking out for its own financial interest, which is fine -- they are not interested in justice, however). DJC is working to derail the Wait List System.
Meanwhile, speculators here have not figured out that the only thing that will keep the profits in the game for speculators is WLS. WLS will also help Joe End User (get the name he wants) who has no idea what is going on with Namewinner, Pool, DropWizard, and now Enom. And, I can tell you for sure, Snapnames are not what they used to be. My Snapbacks are losing left and right against the other services, especially against Pool and BuyDomains.