I don't see this as an ad at all. Saving 5% your total order or free shipping on $75 or more is an ad. This is an opportunity to get over $600 of apps for under $50 - legally. It's something that doesn't happen all the time. It's become a topic of interest in the mac community over time. As far as rumor sites go, it's pretty newsworthy.
It's being labeled as a back-to-school bundle, and I can see the usefulness as such for just about any undergrad (or higher), particularly with Mellel, Devon Agent, and Bookends. Serious students can also get great use out of Contactizer Pro and Alarm Clock Pro. LightZone, Norrkross Movie and MacJournal help keep creative minds active outside of studies. And Hookup and Periscope I'm sure would be handy in a dorm-type environment or other common area where lots of people are online listening to music.
For me, LightZone was worth the price of admission. iPhoto is neat and all for a free app. I love using Aperture, but it has its limitations as far as intuitive use. CS3 is incredible, but much more than I need as a hobbyist photographer. I watched the tutorials, downloaded the demo, and purchased the bundle within a 24 hour span.
I haven't tried Mellel, Devon Agent, or Bookends yet, but it looks like they'll go together well, and I have a lot of writing to do this semester.
I'll give Norrkross a shot. I have a camcorder, but I haven't used it much and iMovie seems to do me fine.
I've toyed with Alarm Clock Pro and I know I'll be using it a lot.
Contactizer Pro, not so much. But my need for contacts is pretty small - I'm a bit of a shut-in. My wife could probably get good use out of it, particularly the project tracking.
Hookup and Periscope probably won't get much use from me. As much as I'd love to move into the co-ed dorms, my wife is dead set against it...