Well, here's the thing. I put a new Dell Streak 7 tablet up starting at 0.99 BTC, no reserve, high bidder gets it. Same thing I usually do on ebay. Well there are so few users /bidders on BiddingPond that it sold for $20 BTC. Great for the buyer, not so hot for me.
I'm not giving up on it yet though. I should perhaps start with some cheaper items.
A low start price (1 btc) plus a reasonable reserve is a way to try to sell a valuable item on biddingpond. People DO bid on reserve auctions, but not as much as reserve free auctions. Unfortunately people often set the reserve too high as well.