When you choose your lead time, remember that the high snipe always wins, as long as you meet the minimum bid increment.
Rule of thumb: The higher the price of the item, the more a lower lead time matters.
At low-dollar values, the MBI doesn't matter much. But at higher-dollar items over 1000 (in any currency), you always want your bid to be first. Yes, that is right.. you want the bid to be earlier!
There is a good example of this situation posted on the minimum bid increment help page.