I LOVE PBS! I've been doing it for a few years, and it is so great. It's really improved in the last year, too. Let me see if I can answer some of these questions.
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Originally Posted by naturallyspeaking 
HI,
I just checkout PBS and it sounds like a good idea. One question though what if you get multiple request for your book? Am I supposed to send to the first requester?...After I searched for my wish list books I noticed for some books there are more than 50 people. How does the poster choose which one to send the book? Or do I need to keep browse everyday see if my wishlist came up and apply to the poster..?
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It's all automated. The system totally does it for you. So you only get sent the information about the first person who requests it. Same with the Wish List. The system keeps track of where everyone is in line, so no one ever gets multiple requests. You do NOT have to keep checking back - PBS will email you when your wish list book becomes available and you have 48 hours to decide if you want it or not.
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Originally Posted by naturallyspeaking 
Do they usually have a few years-old publications or do they have newer publications?
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Both. Of course, newer, more popular publications are going to be harder to get. But they have the Wish List feature - you search for the book, click "add to wish list" and it goes on there. If you go to your account and view your wish list books, mouse over the exclamation point in the grey circle near the book, and it will tell you your place in line for the book (i.e you are 4th out of 50 people waiting for the book).
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Originally Posted by naturallyspeaking 
After I post books and don't get much response for my books can I cancel the post (if I just want to give them away) or do I absolutely need to commit these books to send away via this site?
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As far as I know you can take books down as much as you want, with no commitment. The only caveat may be in the very beginning, since they require you post 8 books in order to receive your first 3 credits for trading. If you go below 8, they might take away your "free" credits. But other than that, you can take them down whenever. You can also decline requests if you want/need to. For instance, we were moving and someone requested a book and I declined, and told them the book was in a box somewhere and I had no idea where. PBS automatically takes the book off your list when you decline to send it, but you can repost it later.
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Originally Posted by naturallyspeaking 
Can I can post my books to multiple swap site and send it to whoever respond first?
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Yes, I've done this, but you have to be super organized. You need to remember to remove the book from both sites (i.e. to delete it from PBS if someone requests it from BookMooch). It can be more of a headache than it's worth, it's up to you.
HTH! Feel free to ask more questions, it can be confusing at first but it's a great, pretty streamlined system in my experience.