After talking to a friend IRL about the two party escrow thing I realized there is nothing to stop the buyer from not releasing the money after the items arrive.
EX: I get items from seller, I'm already out my 100 bitcoins, and he's out 10 more, LOL! I'm going to change my name and no one will never know that I'm a dick!
I think both sides would need a ~10% additional escrow to prevent all malicious fraud. I think this is important especially for buyers as they will have far less reputation to verify and depend on compared to centralized merchants.
The reason I (and others) linked to past discussions is so that less time is spent reinventing the wheel. Take a look at this
for example. Some more discussion occurred here
It appears you overly complicated the idea and no one in that thread had a clue what you were talking about.
This is ridiculous. Of the 3 people who posted after me in that thread:
remmy (the op) understood what I said, up to some technical details.
iamzill probably didn't understand. His loss, my suggestion solves his suggested failure mode and I explicitly addressed it.
BitOffer presumably understood what I suggested, as he referenced it.
My "overly complicating the idea" was written in a way that makes it precise who gets what in which conditions. It was designed to solve the problems raised earlier in that thread - some of which you will probably only realize after some more chats with your IRL friend.