Update: The product page has been taken down; it looks like someone at Dick Smith may have made a boo-boo. EcoGamer recommends you give your local store a ring to see if it is willing to sell the console at the reduced price.
Madness. Utter, utter madness. Anthony at EcoGamer sends word that Dick Smith Electronics is currently selling its stock of Halo Edition 360s for the stupid price of $264.50. These are Pro units, with a good chance of having the cooler Falcon chipset.
This news comes hot on the cheap-arse heels of Big W's discount Xbox 360 Arcades. I don't know if it's the retailers or Microsoft that's flipped their lids, but someone has clearly gone nuts with the "on-sale" stickers.
If you don't already own a 360, you might want to grab one. I doubt you'll see prices like this again soon.
Halo Xbox 360 $US 264.50 [EcoGamer, thanks Anthony]