So far after 24 hours my job offer on Elance has recieved four bids. None of the bids were as good as I had hoped for, though they are still quite good. I have already rejected two of the four bids for either being too high a bid, or not meeting my project requirements. These rejected users are still able to bid again. The existing bids are somewhere around the minimum wage rate in the US ("$5.15 an hour":http://en.wikipedia.org/wiki/Minimum_wage), but these bids are for skilled work.
So far my Elance experience has been a positive one, and I would recommend Elance to others. However, don't quote me on that until I see the quality of the work!