yes, but as they have extended the offer untill 24th dec, it should come into stock again.
I'm in the same boat as you. All the consoles I own have been picked up *dirt* cheap off friends or ebay (usually when the console costs the same as the postage!). £50 sounded great at first, but looking at ebay you can pick up 2nd hand ones with extra controllers and remotes for not that much more.... And then you need to get a mod chip...
xbox is tempting to me only for modability - I've seen a nice setup where it had stacks of videos and mp3's, bunch of emulators etc.. Not really bothered about the games. I would probably shove the games on ebay if I got the bundle making the puchase more cost effective...