If we're talking about brand new iPod touch, I've seen the 8GB version as low as $240 from Frys Electronic couple weeks ago. But it didn't include January software upgrade.
I've also seen Target sell it for $299 with $50 GC included.
I bought my 16GB for £220 instead of £280, remove the 17.5% tax and convert it to dollars and remove £30 I suppose, I'm sure Apples logic works this way.
Apple is selling refurbished iPod Touches on their website for $229 w/o the January Software Update. I got one a couple of months back and it's been great.