Is it a good idea? How many cards can you send in one envelope?
should you go Non machinable?
I think PWE is generally a bad idea. As a seller, it's tough to accept goods / services for PWE because without tracking a buyer can just claim item not received. Maybe someone else can chime in re: the non-machinable envelopes. You can send a few cards PWE in most cases. It's risky imo so I have only sent or received this way when I wouldn't be too sad if the card ever arrived.
I don't have an issue with it if using eBay's standard envelope service for cards under $20. They give insurance and some tracking info, so it's a decent way to send/receive less expensive cards. I've used it a bit (probably 100 or so transactions) and a couple were lost so I had to refund. I filed a claim (which was a little annoying of a process) and they sent me the money via paypal.