I sold my P bass on Sunday on this site, the money was in my bank account within 2 hours and I still had the bass. I had never had contact with the chap before but after a couple of PM's, the deal was done. I guess we trusted each other to do the right thing due to this site. And it works, try doing that on Ebay.
Edited to say thanks to all the guys on here who PM'd about the reason I sold the bass, you don't know how much I appreciated that. Basschat Rocks.