HC, I suggest you open it up to be able to bid at will. It is rather weird to not be able to increase the max bid, but I get that its not incremental like ebay and will bid up to your amount you wish (this would be ideal but not likely). I am not sure I love that you insinuated it is close to cheating, but I disagree completely.
If person A is the highest bidder, they should hold the most rights to that pick, not person B who wishes to steal it with 1 or 2 seconds left, and who currently holds the real rights to the pick considering person A is "locked out"...just my thoughts on this and I think if anything it is goofy to even bid anywhere close to the end except the end if you cannot increase your bid to be more secure... maybe the auction should be silent? puff_>>
In all seriousness, I think if the highest bid holder cannot increase their own bid at any point freely then it makes no sense to be the highest bidder ever until the final 5 seconds and will drive the pricing down on all auctions... if that makes any sense
-murph