It would be enormously helpful if you could please please add, "WATCHING", & "BIDDING", to the Status field drop down box. It's had to tell at a glance what the status is on all the items I have before bidding has ended. It would be very much appreciated!
Thank you.

If you add a column "My Bid" (can be done from Profile menu if you use Web-based version, or from View - Columns if you use Windows application), then you can easily distinguish bidding/watching if My Bid column is empty or not.

This way it can be done automatically as any "watching" can be switched to "bidding" by just adding a snipe amount to it.

There is a column labeled 'bid' and if the item is in the list, you are already watching it.

I don't see the need for any of that, unless I missed something here.