I started my website late in 2006. I reduced business on Ebay as I did this. I reserved Ebay for items that sold well consistantly in the past. Though I didn't list much, I noticed the items that sold well in the past were no longer selling well. It seemed to get worse as the 2007 year went on.
I wanted to keep Ebay as a small sales channel but it just doesn't seem worth it anymore. I haven't listed anything for several months. I have been having decent sales on my website and on eCrater. I'm still keeping iOffer and Amazon in mind.
FWIW, I've had really good luck with local online sales from advertising the website locally. Buyers can safely see what they are buying before they purchase. Even if you don't have a B&M store for your customers to go, you could offer delivery in a certain area. Or even offer free delivery in a certain area if you can figure it in your cost or a small charge enough to cover gas.
I do have a B&M store and had alot of repeat business this way as well. If your store is hosted by someone else like eCrater, buy a domain name and point it towards your store. That way it looks like YourStore.com.
There's a world of marketing ideas out there and sellers who have left/are leaving Ebay will have to research and find out what works best for them. Powersellersunite.com is a good place where sellers share ideas with what's working for them.
We made Ebay work and what it became. Now, we'll just have to take that entrepreneurial spirit and make it work for ourselves.