I sold my older PowerBook on eBay. The first person that won it, tried to screw me with the unverified PayPal account/shipping address. After they sent me money, I quickly refunded the money back to their account, and within 24 hours they unregistered from eBay and refused to reply to my emails.
This is what I do. I accept PayPal on any items less than $500. If over $500, I only take money orders due to PayPal's outragous seller fees. I have yet to have a problem, and although you don't get as many bids at the beginning of the auction... someone will look at your positive feedback and see that your legitimate seller.
Once I receive the money order, I take it to my bank and have one of the account executives (clerks) verify that the money order is legit. They have phone numbers for all of the issueing banks. Once they verify the numbers on the money order, I deposit it in my account and ship the item.
Watch eBay and PayPal's fees, you can easily loose 10 to 15% of the final auction price if your not careful.
Edit: If a bidder with good feedback request PayPal for the auction, I tell them that I will accept it only if they are a verified member, have a verified shipping address, and willing to pay the PayPal fees associated with the auction. Most of the time, they are willing if they intend to charge it on their credit card and don't want/have the funds to purchase a money order.
Making the buyer pay the PayPal fees is technically a violation of the PayPal agreement, but I personally don't care.