On the new version the entire code base was rewritten and the component had come a looong way toward a stable release.
The only downside of the component is the frontend template. The default template looks like is from early 50's :) . Anyway if you dig yourself into some custom template design (basic html/css with some smarty tags) the auction system can look really good, and i mean REALLY GOOD. The support is also great NOW. I can say that in the past while they were focusing on getting new version to light there was a period for a lack of support responses (or responses that came after very long period of time) but now they are back on track. I had some issues, i provided them administrator and FTP credentials and they helped me out really quick (same day or next day response). These guy are great and offer great support, the component is also on the right path ... and i can say that this became a really good reverse auction extension for joomla.
For a while we were looking for a "central hub" to allow our members to publish and manage ads throught our entire network (portal,forum, other apps). We wanted this "hub" to automate the entire ads publishing process and take care of payments.
After a little bit of research we came across iJoomla Ad Agency and we simply got in love with it! This component deserve EVERY penny!
Not only that we can define zones and allow our members to run CPM or CPC based ads but we can also integrate this into ANY EXTERNAL APPS!
Tech Support is very responsive! We had a little issue (css related) and Alin took care of it very fast!
THIS COMPONENT IS A MUST HAVE! I HIGHLY RECOMMEND IT!