Great deal when you consider A) free shipping (and no tax for most) and B) the fact that you are actually getting a good enclosure out of the deal. This would be a solid price for just a 250GB HD, and a decent aluminum enclosure is about $30. BTW, this is already out of stock when I checked awhile ago, for good reason obviously. I've bought HDs with rebates from Outpost and had no problems with the rebates, although this rebate is likely from an entirely different source.
P.S. - congrats on 2k posts TCAS.