So, you are obviously very happy with the outcome, but what about the buyer?  They paid $200 and have no item, which means they will most likely never buy anything on eBay in hurry.  All that for $3 extra for registration that you should have added to the postage, which would have made it more likely that the item was delivered.

The onus is now on the buyer to convince Paypal they did not receive the parcel, quite easy if you know what you are doing, so that Paypal will cover the refund, that is what buyer and seller protection is all about.

I think that Paypal should change their policy to make it clear that a seller needs more than just a postcode receipt after all they could send an empty satchel to any random address in the same suburb and have seller protection.

As it is cheaper anyway to use click & send i can't imagine why sellers leave themselves open to disputes and neg feedback when they can so easily be covered properly.