I got $72.50 off on a retina iPad today at Target. Using the Target credit card (which you may be able to get on the same store visit as your purchase), I got 5% off of the purchase price. Currently there is also a special where you get a free $50 gift card with an iPad. One minor complication is that the 5% discount "applies to eligible purchases minus any other discounts and the value of any promotional Target gift cards received in the transaction." My effective price was thus ( $499.99 - $50) * (1.0 - .05) = $427.49.
Not everyone can get a Target credit card immediately. When my wife applied for a Target card today they told her she had to wait 10 days for credit approval. Because of this, I was compelled to apply for a card, and they approved me on the spot.
At Target you can also purchase the iPad 2 for $399.99. Using the same combination of gift card and Target card discount, the effective price would be $332.49, a savings of $67.50.
Message was edited by: Gordon Hamachi to add information about the iPad 2