While this seems to be a running commentary mostly with myself, hopefully the info is helpful to future others.
I bid $325 for the transantlic segments and $225 for the KEF-CPH segment, and $150 for the CPH-KEF, which was the minimum bid.
Next to the slider, they have a meter which provides five zones; red, orange, yellow, light green, and bright green, indicating your chances of success based on prior history.
All but my "minimum" $150 bid were at the low edge of the light green "zone."
Not sure what the point of bidding $150 for the CPH-KEF segment is if the deep red zone really means "no chance," but I'm trying to test/learn. Also, why do they even have a red zone? It's not as if these bids start at zero. $150 was the minimum bid...but judging by the meter, you'd think the practical minimum is more like $260+???
After submitting your bids, you need to provide your credit card info.
They say they will inform you of the results between 48 and 72 hours from departure? Wonder if this is by segment, or if they clear the whole itinerary at this point?
Also, you get a confirmation email after you submit with links to change you bid(s).
Will advise as things progress.