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Walmart had a deal where you got a $50 gift card with any PS3 purchase but I think that's dead now.
If you were going to buy those five movies for the $15-$20 each, yes, it's pretty good. If you weren't, it's a nice bonus, but it's not worth as much. Same logic applies to HD-DVD players, too, I'm not a fanboy.http://www.bluraysavings.com/
It is a rather good deal. If blu ray movies sell for 15-20 bucks, it's like saving 75-100 bucks off the PS3.