I think some of the products on his site are really attractive, but I remain a little skeptical. I do not think there is any real risk that you may lose your money and not get the item you ordered, but am still a little scared that the process would just be slow and frustrating.
That said, I think it would be easy enough for him to redeem himself. Due to the popularity of the items he is selling, there are plenty of people willing to take the gamble (not unlike group buys etc.). All he needs to do is fulfill his orders for a few months and stay in touch, and people will forget about it soon enough. I personally do prefer to use paypal for this sort of thing though.