"Payment owed" does not have any buyers protection. If something was to happen, like there was an argument over product quality, late shipment etc where the buyer would want to file a claim, there is nothing paypal can do. The fees avoided are on the sellers side only and this method does not benefit the buyer.
Sorry Puzzled, I don't mean to **** in your thread or cause any negative views towards the sale. And I know you are a trusted member, but I just wanted to say that when using "payment owed" feature in paypal, this is a "buyer beware" situation.