HKPegasus is a regular seller on eBay UK and has been over the past few months. I've bid, but never won any items so cannot comment on there customer service, but have no reason to believe that the're not legit.
It looks like they adopted an early policy of starting everything out at a 99p bid, which catches peoples interest, and the bidders bump the prices up.
In general terms, when you take the shipping in to account, the sale prices end up lower than UK sale prices, but on par with, or higher than US sale prices.
Simon