Haven't tried running it yet but I did go through the source just in case anyone was worried about running it and can provide 3rd party confirmation that the only connections it makes are to project1999.com for the p99 patches (with a checksum to make sure you got what was expected) and a call to
http://ahungry.com/p99-patcher.json to get an updated list of p99 patches. I'll give it a shot sometime to see how it runs on ubuntu 12.04. Also thanks for the auction tracker! That thing is awesome.