Definitely not good deal, considering all the Canon T2/3i refurb deals going on as of the last 2 weeks (not to mention the ever elusive $450-20% coupon Staples deal that pops up from time to time.)
Personally, I'd hate to spend $4XX on an old camera knowing the newer models are going around for even less recently. With T4i out now, it will only drive the older models down. I wouldn't settle for anything less than a T3i right now (unless I get lucky on the Staples deal). Even the Nikon D90 deals have started surfacing so in regards for value, I wouldn't dish out $390 on a 3 yr old camera/technology.
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