This application was designed with the serious eBay seller in mind. Recently, my wife started her own eBay store, and it wasn't long before we realized that we needed a system in place to manage our inventory. The original version was lacking in several departments, and was quite honestly too complex by design.
This version (version 2.1) is much more simplified in its use. It will track your inventory based on locations that you define. For example, if you have 5 shelves full of eBay merchandise, you could name them Shelf 1, Shelf 2, Shelf 3, etc. Or S1, S2, S3 - whatever is easiest for you.
You can also track information pertaining to your buyers, such as who bought it, their shipping address, email, and eBay ID number. The application also has a very basic accounting system built in to it. By entering the price you paid for the item, the price it sold for, and the shipping cost, you can view a report for each month that will show you your profit or loss, complete with line item detail.
By far, the feature I use the MOST is the search feature. It is a fairly thorough search feature, allowing you to search for just about any term in the database. Very handy if you are looking for an item, and all you have is the description.