Good news acording to the eBay news feed:

Zero insertion fees on qualifying auction-style listings on eBay.co.uk
From 12th March 2009, there’s no insertion fee if you’re a private seller and you list your item in an eligible category in the auction-style format with a starting price of up to 99p. Don’t forget, your first picture is also free.
If your item doesn’t sell, you don’t pay a penny. All you pay for are optional listing features and upgrades

Sounds great, but lets take a closer look.

* The free listing fee is only for those with a starting price of 99p and under, any thing else still has the same listing fee.
* The final value fee has again gone up. Instead of a sliding scale starting at 8.75% it’s now 10% up to a maximum of £40.

With a bit of a back of a fag packet (excel spreadsheet) during my lunch I’ve come up with these figures.

An item selling for £1 will now have a fee of 10p instead of 19p (9p up).
£5 will have a fee of 54p instead of 50p (4p up).
£8 will have a fee of 80p, the same as before.
£10 will have a fee of £1 instead of 98p (2p down).
£20 will have a fee of £2 instead of £1.85 (15p down).
£40 will have a fee of £4 instead of £3.25 (75p down).
£100 will have a fee of £10 instead of £6.40 (£3.60 down).
£150 will have a fee of £15 instead of £9.02 (£5.98 down).
£250 will have a fee of £25 instead of £14.27 (£11.73 down).
£400 will have a fee of £40 instead of £22.15 (£17.85 down).
£750 will have a fee of £40 instead of £34.90 (£5.10 down).

Only when an item sells for more than £1090.05 will you end being better off again. On top of this, with the forcing you to offer PayPal, eBay can take a second hit at your money.