In an ideal world, I think feedback (as a seller) should be left as soon as payment has cleared. The buyer has done their part. But, hey, eBay is not an ideal world, unfortunately, so I do things just as Lisa described. Again, most unfortunately, sellers can no longer leave negative or even neutral feedback for a buyer, so the best we can do is not give them any feedback. That's a pretty sad state of affairs and, in my opinion, indicates that eBay is having difficulties of their own.
It's funny, the eBay owned site Kijiji is very popular in my area and I have sold a lot of items on it. No fees, cash payments, the buyers come to you ... I like that. Naturally, not all things can be sold locally for optimum profit.