Update: I'm afraid this is sold out already, as I predicted. Sorry if you missed it!
Update #2: And now it's back in stock. Moral of the story: If something sells out, check again in an hour, a couple hours, or even the next day. You never know when the vendor will replenish its stock.
To put that in perspective, the last time I saw anything close was back in July: a 25-inch monitor (not TV) for $199.99 plus shipping.
The Mag Innovision UF261 sports a 26-inch screen, an ATSC/NTSC/QAM tuner, 720p output (or 1,366 x 768 if you're thinking in computer terms), and all the inputs you're likely to need: HDMI, component, composite, and VGA.
To my surprise, this is a new unit, not a refurb, and it's backed by a full one-year warranty. (Curiously, however, coverage is provided by Columbus Capital Corp., not Mag proper. Not sure if that's important, just FYI.)
I think the UF261 would make a great TV for a den or bedroom, and it would pair nicely with a game console.
You could also use it as a mammoth PC monitor, but the limited resolution might limit your enjoyment. (In comparison, a typical 22-inch monitor runs at 1,680 x 1,050.) Also, I haven't found any reviews of this model, save for the handful on CompUSA's site (they're mostly positive).
Still, as I said, this is perhaps the best HDTV/monitor deal I've seen this year, and consequently I'll be shocked if it doesn't sell out by the end of the day. Act fast if you want in.