It’s not too good to be true. I just did it and my reader is in shipment. Plus you get $150 worth of eBooks from the Sony CONNECT digital book store ($100 of ‘classics’ they choose and $50 of whatever you want).
How can you get this amazing price?
1. Go to this website and apply for a Sony credit card.
2. Receive card in mail (up to 30 days, but mine was like 1 or weeks)
3. Activate card
4. Register on http://www.sonyrewards.com
5. Add something, anything to your wishlist (I strongly suggest adding a really expensive item as you have a chance of winning that item for free).
6. Add the Reader to your shopping cart
7. Click “Proceed to checkout”
8. Follow the checkout process. You will need to purchase 5,999 Sony points which is really $59.99 for shipping + tax.
9. Register an account with http://www.ebooks.connect.com
10. Plug in your shiny new Reader and activate it.
This had me jumping up and down in excitement when I ordered mine tonight for this ridiculously cheap price. The only downside here is that the CONNECT software only works with Windows, but if you’re on a Mac Boot Camp is hella easy to use. Also, I’m guessing people have figured out how to get their own ebooks on there through OS X.
EDIT: Sorry for omitting the link the first time, it’s up there now. Thanks, R.