Is it an amount you're prepared to lose?
My wife buys and sells lots on eBay. Some buyers are honest, some aren't. Obviously newer accounts are riskier. eBay doesn't allow you to ban 0 feedback members from buying - after all, they have to start somewhere like you say. But I would be very wary of selling anything high value to a 0 feedback member.
Dispute resolution I would say, often sides with the buyer. You send the item, they receive it and say it's not what they ordered and send back a broken version of your thing, or (worse) an empty box. As soon as they say they've shipped it back to you, Paypal will often refund them (taking it from you). These problems are often mitigated by checking feedback. Which you can't do as they have none.
If that were me, I'd cancel the sale unless it were under my "Prepared to lose" threshold. If you decide against that, then I would video yourself packing it up, weighing it and sending it off. Make sure the eBay address is the same as the paypal address. Get proof of delivery. If they send anything back, video yourself receiving it from the postman, weigh it to make sure it's the same weight as you sent, and open it in front of someone (while videoing). If it turns out to be empty or broken (or if you're lucky has a different serial number) you will need to open a case with eBay. I would also open a case with the police (it's fraud) and include the police case reference in the eBay case as that will strengthen your claim. If the address that you send to is common across other eBay accounts the cops will have a better idea than you.
Ultimately though, you could still lose your item and your money which goes back to my initial query. Are you prepared to lose? I stopped selling anything worth more than about £30 on eBay a long time ago, my wife still does it. It causes her an inordinate amount of stress. People get stuff, get buyers remorse, then make up stuff to say there's something wrong with it. You then have to take it back and give a refund.
