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When to bid on Priceline

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Going to Seattle first part of December. How long before my travel date should I bid for hotel room? Should I do it now, or wait until later in Nov.? Any advantage in doing it now? Also, as an example, if I bid on a 3* hotel on Name your own price, will I get a 3* or is it possible they will give me a 2* if I get a winning bid? May make a quick, last minute trip elsewhere in Nov. wondering how soon you get information on winning a bid from priceline, within minutes, or longer?
Hope these are not repeat of questions all ready answered, however I couldn't find the answers in the posts I read.

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