As a previous eBay Seller, and of course Buyer the changes have been difficult.
I sold on eBay four years ago, and absolutely loved it. I was able to make a good profit, had fun getting to know my customers, and enjoyed the whole experience. At the time, I also had a great time bidding on items myself. After 18 months I gave up selling on eBay, as I was busy taking care of a sick family member.
This past fall, August to be exact, I returned to eBay to sell some antiques and other items and was quite surprised, not to mention disappointed at the changes. I did sell on there for four months, but found it very disappointing. The cost to Sellers to list and even be competitive seemed unfair. Your correct when talking about the Buy It Now's, as there is no other way to really list an item and not spend more than it's worth. The fee's are ridiculous, and the only real way to compete is to open a eBay Store, which costs more money. I did open a store, and the recurring fee's is unbelievable. Unless you cancel an item on time, they automatically relist it and charge you. If you have many items listed, like I did, you have to watch everything throughout the day to make sure you don't miss anything running off, or you get charged. Additionally, there is favortism to Buyers and not Sellers when there is a problem also. Overall a bad experience.
It's sad that eBay made the changes they did, and I understand it is due to the New Ownership. I am a believer though, "If it's not broke, don't try and fix it." rule.