Hello Brian,
Thank you for your question about lead time. I prefer 5 seconds myself. The main thing is to be the highest bidder.
The lead time is only relevant if there is a tie. In that case you want your bid to come in a little bid earlier. The distance to the server does not matter since we place the snipe from multiple locations.
Offhand, the bid itself is an HTTP request, which travels at approximately the speed of light. So you're ok there. :D
bidslammer